Google (GOOG): Search Spending OK, Google Won't Blow Quarter

More Street love for battered GOOG:

Following the Search Engine Strategies conference earlier this week, Cowen said they believe search ad budgets continue to exhibit good growth and will remain intact. The firm isn’t ignoring economic headwinds (at least they say they aren’t), but they believe that Google’s (GOOG) revenue estimates are achievable.

Kaufman Bros. agrees and also is very comfortable with GOOG’s top-line estimates. After conducting their own checks, the firm does not believes weakness in the US and European markets are significantly impacting search advertising revenue.

Cowen reiterates OUTPERFORM on Google (GOOG).

Kaufman Bros. maintain BUY on Google (GOOG).

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