It's already been quite a busy morning for Google (GOOG: sentiment, chart, options) , with the Internet-search titan launching a new web browser in between bullish and bearish analyst notes. First up, the new Chrome browser from Google is available for download today. According to the company, it's a "more sophisticated" browser for displaying dynamic and interactive content.

Chrome will compete with Microsoft's (MSFT) Internet Explorer, which is used by about 75% of Internet surfers -- but Cowen & Co. analyst Jim Friedland asserts that Google's intent is not to eat into MSFT's market share, but rather to "drive development and innovation in the search-engine field."

Meanwhile, analysts have offered up dueling notes on Google this morning. Stifel Nicolaus slashed its price target on the shares from $675 to $600, in order to reflect conservative market valuations. The brokerage firm maintained its "buy" rating, though, and said Chrome will be a viable competitor with Internet Explorer and Firefox.

Elsewhere, Stanford upgraded GOOG from "hold" to "buy." The brokerage firm said that third-quarter expectations appear "modest," and valuations are attractive. Additionally, from a technical analysis standpoint, the stock appears to be completing a "double bottom" formation, says Stanford.

As traders digest this glut of news, GOOG is about 3% higher this morning. A flurry of call volume is crossing the tape on the stock's September 470, 480, 490, and 500 strikes. Each of these call options has traded volume of more than 1,000 contracts so far today, as GOOG trades around $477.