Google (GOOGL) has received an upgrade from Pivotal Research. Here’s what the upgrade means for mutual fund investors.

Inside the Upgrade

Pivotal Research upgraded Google from “Hold” to “Buy” on Wednesday and has given the company a $610 price target. This price target suggests a 20% upside from the stock’s current price.

According to analyst Brian Wieser: “We have been generally negative on Google since early 2013, given our ongoing concerns about margin erosion, intensive capital investment plans and diversification (also capital intensive often) away from the company’s core advertising business. The business has generally expanded better than we thought it would and margin erosion – while evidently worse than most investors expected – has not been quite as bad as we feared. An additional negative has taken root in terms of Google’s relationship with the governments of many countries in which it operates, which may add further costs in the long run (for example, through higher taxes, additional support for governmental pet projects and fines), although nothing resembling a meaningful threat.”

A Stock for Traders

Unlike historical trends, Google is actually down almost 10% this year. Despite its dip, Google’s stock price is around the equivalent of the $1000 price prior to the stock split. This stock is geared towards aggressive investors and is a target for active traders.

Mutual Funds to Watch

Investors seeking exposure to Google may consider the funds below. These funds currently hold the largest stakes in the company.

The Bottom Line

The funds above offer investors exposure to Google, while remaining diversified. Investors interested in Google may also be interested in Apple (AAPL) and Microsoft (MSFT).

Shares of GOOGL are down 10% YTD.