New Stock Coverage: Sun Rises on Western Gas

By Justin Sharon  JAN 03, 2013 9:18 AM

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


MINYANVILLE ORIGINAL Yesterday’s action on Wall Street was quite literally Bliss, with Dow Industrials (^DJI) enjoying the best start to a year in their entire history. We said a sad goodbye to Patti Page, who asked “(How Much Is That) Doggie in the Window?,” but the Dogs of the Dow looks like a reliable money maker. Last year’s main flea-bitten mutt, Bank of America (BAC), gained 108% in 2012 and this year’s prime pooch, Hewlett-Packard (HP), added on 5.40% to best all blue chips yesterday. An honorable mention goes to MetLife (MET)’s Snoopy, who saw his stock surge 6.71% to start 2013. Traders wearing rose-tinted champagne glasses that looked suspiciously like bowling pins enjoyed an analyst-inspired 7.08% jump in Brunswick Corp. (BC), which finished at a fresh 52-week peak. And this week’s midnight pizza deliveries on Capitol Hill during fiscal cliff negotiations had Domino’s Pizza (DPZ) up 4.43% at the highest level in its history. (Our politicians clearly deluded themselves that they were eating healthily.) Today the 113th Congress is sworn in, and quarterly earnings announcements are due to include A. Schulman (SHLM), Family Dollar (FDO), Piedmont Natural Gas (PNY), Sonic Corp. (SONC), and Worthington Industries (WOR).
Aegerion Pharmaceuticals (AEGR): The company is covered with a Buy and $30 price objective at Janney Capital.
Akamai Technologies (AKAM): Macquarie has a new Neutral on the name, assigning it an objective of $42.50.
Banco Santander (SAN): Shares are covered with an Underperform at Crédit Agricole.
Cerner Corp. (CERN): The equity is assigned an Overweight at JPMorgan, whose target price is $93.
Emcore (EMKR): EMKR is resumed with a Buy recommendation and $8 price objective at Roth Capital.
RF Micro Devices (RFMD): Longbow launches Buy rated research and a $7 target on the semiconductor stock.
Western Gas Equity Partners (NYSE:WGP): Shares in the limited partnership are picked up with a Buy at Citigroup, which issues a price objective of $32.50.
Winthrop Realty Trust (FUR): FUR is a fresh Market Perform at JMP Securities.

(See also: Stock Downgrades: Aflac Not All It's Quacked Up to Be and Stock Upgrades: JPMorgan Having a Whale of a Time.)
No positions in stocks mentioned.

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