As previously reported, Stifel analyst Scott Devitt upgraded Alphabet (GOOGL) to Buy from Hold, stating that he is increasingly comfortable with Alphabet’s positioning in digital media relative to Facebook (FB)given Alphabet’s private relationship with consumers and the high utility and durability of Google’s core business. Also, he sees the reset of 2018’s outlook following yesterday’s earnings, and resulting pullback in shares, offering a reasonable buying level for shares. Devitt maintains his $1,234 price target on Alphabet.