Google Is A $620 Stock, Says Analyst

Shares of Google shot higher Monday after several analysts raised their price targets on the Internet giant.

Google's business is strong, and its stock is even stronger, says Thomas Weisel analyst Christa Quarles who raised the company's price target to $620 Monday.

“We were encouraged by CEO Eric Schmidt’s commentary when he said the worst is behind us,” explains Quarles on Fast Money. “We see Google as an early cycle recovery play… Google should be a beneficiary of any recovery that we see.”

And Quarles is hardly alone in her optimism. Separately JPMorgan and Goldman Sachs raised their estimates on the Internet search giant with Goldman’s price target going to $585 from $560.

With Google scheduled to report earnings on Thursday, how should you game this stock?

If you like this tape I’d be long Google, counsels Guy Adami.

I’m also a buyer of Google, ahead of earnings, reveals Joe Terranova. And I’d watch what they say about prices per click. Look to see if there’s stabilization after 4 quarter of declines.

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Trader disclosure: On October 12, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (BTU), (MSFT), (NUE); Seymour Owns (AAPL), (BAC), (F), (MGM), (MSFT), (BX), (POT); Seymour Owns Shares Of Gazprom; Finerman's Firm Owns (BAC), (BAC) Calls, (BAC) Call Spreads, (BAC) Preferred; Finerman Owns (BAC), (BAC) Preferred; Finerman's Firm Owns (CSCO), (MSFT), (TGT), (WMT), (YUM), (PLCE); Finerman's Firm Owns (WLP) Calls; Finerman's Firm Owns (UNH) Calls; Finerman's Firm Is Short (IJR), (MDY), (IWM), (UNG), (USO); Finerman's Firm And Finerman Own (WFC) Preferred; Terranova Owns (JPM), (NOV); Terranova Is Short (GRMN); Terranova Is Short (CCL); Terranova Owns Dec. 2009 Gold Futures; Terranova Owns Dec. 2009 Crude Oil Futures; Terranova Owns Dec. 2010 Crude Oil Futures; Terranova Works For (VRTS)

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