Google Rises On Analyst Upgrade

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Google stock hasn’t been moving up too boisterously lately, but that changed today when the stock bounced over 4% based on an upgrade by a Goldman Sachs analyst who rated the company a “BUY”.

In a note to investors, Goldman analyst James Mitchell took over primary coverage for the company with a “Buy” rating, saying the company’s plans will increase traffic over time.

He believes recent decelerations in the company’s paid click growth “reflect self-inflicted changes to improve the find-to-search ratio” and said a revenue slowdown in the fourth quarter of 2007 was “partly a reversion to trend growth rates.”

Google shares had been drifting lower based on concerns the company’s Adsense program had peaked as far as revenues and profits go.

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