Google (NASDAQ:GOOG) Should Benefit from Strong Christmas

With online Christmas sales strong, Google (NASDAQ:GOOG) is expected to get a good boost from the increased activity, according to Kaufman.

They said, "U.S. holiday online sales strong, even at the tail end of the season...Continued strength a surprise, especially as retailers had front- loaded offers - now the upside is certain...eCommerce spend accelerated to 12% Y/Y growth season-to-date per comScore; MasterCard estimate is 15% Y/Y...Google should benefit from eCommerce strength...Raising estimates and price target; 4Q estimates now 3% above consensus."

Kaufman maintains a "Buy" rating on Google, which was trading at $599.91, down $4.32, or 0.71 percent, as of 11:55 AM EST. Kaufman raised their price target on Google from $650 to $690.