Alphabet stock rises after Stifel upgrades to buy [MarketWatch]
Alphabet Inc. - Class C Capital Stock (GOOG)
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Source: MarketWatch
Alphabet stock rises after Stifel upgrades to buy Shares of Alphabet Inc. GOOGL, -4.77% 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 SPX, -1.34% "We are increasingly comfortable with Alphabet's positioning in the digital media space relative to Facebook Inc. FB, -3.71% 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.
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