New Stock Coverage: Connecticut Water Service Lacking Liquid Assets?

By Justin Sharon  DEC 27, 2012 9:23 AM

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

 


MINYANVILLE ORIGINAL On Boxing Day, stocks continued to wrestle with the fiscal cliff. Shares subsequently dropped for a third straight session although Bank of America (BAC) — recently boosted by a well known wrestler’s wife — was exempt from the overall malaise, advancing 2.58% to best all blue chips and finish at a fresh 52-week peak.
 
Another Whitney, not Meredith but Tilson, said he’s short Herbalife (HLF), which tumbled 25.14% last week. Yet the stock appears to be living the life of life of Reilly (if not B. Riley, which discontinued coverage on Monday) and actually ended up 5.18%. Stifel Nicolaus, St. Nick’s younger brother, said good things about Best Buy (BBY) this Christmas yet it still lost 0.86%, finishing at a new low. Its CEO Hubert Joly can be excused feeling sad, but Brazil’s Gol Linhas Aéreas Inteligentes (GOL) was literally all Smiles, adding on another 9.09% after the prior session’s 7.37% surge. 
 
First Security Group (FSGI), based in the hometown of the Chattanooga choo choo, jumped 27.89% and China enjoyed being number one with a bullet train. Today in economics, November new home sales and December consumer confidence are each out at 10:00 a.m. Eastern.
 
Burger King (BKW): Shares in the fast food firm are a new Neutral at Buckingam, which issues an $18 price objective. 

Connecticut Water Service (NASDAQ:CTWS): Shares are assigned a relatively lukewarm Market Perform with Wells Fargo, which sees fair value in the range of $32 to $33.
 
Covanta (CVA): Capstone covers the company at a Buy and assigns it a price objective of $23. Catalysts include a large market share and predictable future cash flows.

(See also: Stock Downgrades: Marvell Left With Massive Chip on Its Shoulder and Stock Upgrades: KAR Auction Catches a Bid.)
No positions in stocks mentioned.

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