Alphabet price target raised to $140 from $125 at Loop Capital

Loop Capital analyst Rob Sanderson raised the firm’s price target on Alphabet to $140 from $125 but keeps a Hold rating on the shares. The analyst points to the company’s “solid” Q2 results and notes that the firm has shifted its valuation framework with newly introduced 2025 estimates. Loop Capital is also keeping the firm’s 15-times target multiple for Google’s core earnings, even though the firm acknowledges that the launch of AI chatbots across social media platforms will elevate long-term structural concerns for the company.