Alphabet Earns A Wave Of Price Target Increases After Earnings Beat

Investing.com - Alphabet (NASDAQ:GOOGL)'s blowout earnings for the second quarter have Wall Street firms jumping to raise their stock price targets for the parent company of Google.So far, at least two dozen firms have raised their 12-month forecasts, according to FactSet. Susquehanna Financial Group upped its price target the most -- 20%. Its $1,500 forecast is also the highest among firms, according to FactSet. Several other firms, however, are close behind.Stifel, Jefferies, JP Morgan and KeyBanc Capital Markets all have price targets above $1,400 after their latest increases.Of the 44 firms covering Alphabet, 40 have buy ratings on the stock, according to FactSet. The other four have hold ratings.Alphabet shares are up about 30% in the past year. With a market capitalization of $860 billion, it's the third most valuable company in America.