BMO Capital Markets analyst Daniel Salmon upgraded Alphabet Inc. shares /zigman2/quotes/202490156/composite GOOGL +0.39% /zigman2/quotes/205453964/composite GOOG +0.59% to outperform from market perform on Monday, writing that he expects mega-cap internet companies to be popular when the economy rebounds. Salmon prefers Alphabet's stock to Facebook Inc.'s /zigman2/quotes/205064656/composite FB -0.28% as the Google parent company has greater exposure to large businesses, whereas smaller enterprises will likely feel the effects of the COVID-19 outbreak more strongly. He also argued that Alphabet's YouTube subscription offerings should see benefit from lockdowns. Salmon still prefers Amazon.com Inc.'s stock /zigman2/quotes/210331248/composite AMZN +2.11% over Alphabet's, writing that he expects the e-commerce giant's advertising business to be more resilient during the pandemic. Alphabet shares up up 0.6% in premarket trading Monday. The stock has dropped 17% over the past month as the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.64% has declined 14%.