Shares of Alphabet Inc. are up 0.4% in premarket trading Tuesday after an upgrade at Stifel. Analyst Scott Devitt thinks the stock looks attractive following a recent pullback. Shares are down 14% since the company's fourth-quarter release, in part due to Facebook-related concerns, compared with a 5% drop for the S&P 500 "We are increasingly comfortable with Alphabet's positioning in the digital media space relative to Facebook Inc. given Alphabet's private relationship with consumers and the high utility and durability of Google's core business," Devitt wrote. "We see the 2018 margin reset (following [Monday night's] earnings) and resulting share price movement as offering a reasonable buying level for shares of Google." Devitt upgraded the stock to buy from hold and has a $1,234 price target on the stock.