Increasing global domination of Google's
The brokerage upgraded the stock to outperform from neutral, saying Google is well positioned to benefit from mobile and social secular trends.
Wedbush said the company seems to be benefiting from an improving global economy and the positive impact of Google Instant, which displays search results as users type.
Google Instant is positively impacting both cost-per-click and paid clicks, the brokerage said in a note.
Seeing an acceleration in Android's search revenue, Wedbush said owning the world's dominant mobile platform will be monetized in ways investors can't appreciate today.
Google shares, up 22 percent over the past six months, were trading at $596.98, up 1 percent, on Monday on Nasdaq.
(Reporting by Saqib Iqbal Ahmed in Bangalore; Editing by Joyjeet Das)