GGOOG, GOOGL,...Alphabet +11.5%

GOOG, GOOGL,...Alphabet +11.5%; price target hikes roll in 

"This is the second straight quarter where Google introduced some more investor friendly policies," says Piper Jaffray's Gene Munster, reiterating his Overweight rating on Alphabet (GOOG, GOOGL) and boosting the price target to $812 from $723.  

The $5.1B buyback was a surprise, he says, and follow's last quarter's talk about expense cuts. Next quarter, the trend will continue as Google is broken out from the company's other bets.Munster boosts his FY16 EPS estimate to $34.42 from $33.82. 

Other price target hikes come from Jefferies ($900), Credit Suisse ($850), Cowen ($880), and Mizuho ($850).The stock's higher by 11.5% to $726.89 in premarket trade.