As previously reported, Stifel analyst Scott Devitt upgraded Facebook (FB) to Buy from Hold, acknowledging that he was wrong to have stuck with his recent view on Facebook following its Q1 earnings report. While he continues to be concerned about regulation and platform fatigue on core Facebook, Devitt now sees the stock as “too cheap to ignore despite its challenges,” he tells investors. Saying that he prefers the durability of Alphabet’s (GOOGL) products and its stronger focus on privacy and security, Devitt noted that Facebook still grows at twice the rate of Alphabet. He raised his price target on Facebook shares to $202 from $175.