Alphabet price target raised to $185 from $170 at Loop Capital

Loop Capital raised the firm’s price target on Alphabet (GOOGL) to $185 from $170 but keeps a Hold rating on the shares. The firm is rolling forward its valuation framework to 2026 targets, also noting that the company is “doing many things right”, especially with spending discipline and increasing stock repurchase through this period of longer-term uncertainty and valuation pressure. Besides evidence of revenue growth acceleration driven by AI search, which does not seem likely in the near term, Loop does not see a catalyst for reversal of positive sentiment, the firm added, warning however that gen-AI efforts from others can further elevate concern over search query displacement, namely Meta (META) AI, SearchGPT, Apple Intelligence (AAPL) and Alexa (AMZN).