New Stock Coverage: Apple Stops the Rot

By Justin Sharon  NOV 26, 2012 9:17 AM

Wall Street ratings agencies set the tone for today's stock market.

 


MINYANVILLE ORIGINAL Three and a half day work weeks, so beloved of our European brethren, may quickly gain converts on this side of the Atlantic after Wall Street ended its Thanksgiving-truncated activity up sharply, with Dow Industrials (^DJI) finishing back above 13,000 for the first time since the election.
 
A calorie filled American icon filed for bankruptcy as we readied the stuffing, but Krispy Kreme Doughnuts (KKD) jumped 33.09% and Dunkin’ Donuts (DNKN) has just been initiated with a bullish Buy rating, so our obesity epidemic looks set to roll on regardless. “He ain’t heavy, he’s my Brother” was the lament as England’s last typewriter rolled off the production lines. 
 
Apple Inc. (AAPL), where there can apparently never be too many Cooks, climbed 8.3% in its best week for eight months. Chicken powerhouse Tyson Foods (TSN) was no turkey, rising 14% to top the entire S&P 500 Index (^GSPC). European stocks posted their best week of 2012, even as the continent remained singularly unable to reach an 11th-hour agreement in 11 hours of debt talks.
 
No top-tier economic data due today, but Berry Plastics (BERY), Big Lots (BIG), Jos. A. Bank Clothiers (JOSB), and Seadrill (SDRL) are all expected to post quarterly earnings.
 
Apple Inc. (NASDAQ:AAPL): The tech icon, fresh from snapping a streak of eight straight weekly losses on Friday, is this morning begun with a Buy at Citigroup, which has a relatively conservative $675 price objective.
 
AuRico Gold (AUQ): UBS has a new Neutral, and $9.50 target price, on the commodity company.
 
BP Plc. (BP): The oil outfit is among several energy Outperform initiations at BNP Paribas.
 
Dunkin’ Brands (DNKN): The donut powerhouse is picked up with a Buy at UBS, whose price objective is $36.
 
Iberdrola (IBDRY): Citi has a new Neutral on the Spanish energy outfit.
 
Restoration Hardware (RH): RH is a new Outperform at William Blair.
 
SanDisk (SNDK): Credit Suisse starts the stock at Outpeform.
 
Silicon Laboratories (SLAB): The tech name is picked up at Outperform by Pacific Crest, whose target price is $48.
 
Smart Balance (SMBL): RBC Capital rates the maker of buttery spreads a Top Pick and issues a $16 target.
 
Zillow (Z): Morgan Stanley starts the online real estate outfit at Equal-Weight.

(See also: Stock Downgrades: McDonald's Stock Set to Slim Down and Stock Upgrades: Research In Motion Going Places Again.)
No positions in stocks mentioned.

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