New Stock Coverage: Bunge Stock Set to Jump

By Justin Sharon  JAN 07, 2013 9:15 AM

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


Shares surged in a holiday-shortened week, with the S&P 500 Index (^GSPC) advancing 4.57% to hit its highest level since the start of the recession in December 2007 after Congress, contemplating the fiscal cliff, decided not to pass the buck itself. (Or words to that effect.) Socialist Hugo Chavez, who said capitalism killed life on Mars, saw his home market go to Pluto, with the Venezuela bourse jumping 302.81% to post the planet’s best performance in 2012. Gap Inc. (GPS), whose khakis are the chosen attire of two of his fellow dictators even in the afterlife, started 2013 strongly after being anointed company of the prior yearFacebook (FB) began January, a month named after a two-faced Roman god, by gaining 11% after a 180 degree about-face from an analyst previously pessimistic on its prospects.

No top-tier economic data due today, but quarterly earnings announcements are expected out of Commercial Metals Company (CMC), Phillips 66 (PSX), and Zep Inc. (ZEP).
Archer-Daniels Midland (ADM): JPMorgan establishes an Underweight on ADM.
Bunge Limited (NYSE:BG): The agriculture outfit is assigned an Overweight at JPMorgan.
Noble Energy (NBL): NBL is a new Buy at Bank of America-Merrill Lynch.
SodaStream (SODA): Barclays starts Overweight coverage on SODA.
SolarCity (SCTY): Bank of America-Merrill, Goldman Sachs, and Roth Capital all launch Buy rated research on the recent IPO. Credit Suisse, at Outperform, is equally upbeat.
Spectrum Brands (SPB): The company, whose offerings include George Foreman, Rayovac, and Remington, is picked up with a Buy at Deutsche Bank.
(See also: Stock Upgrades: Amazon’s Money Tree Keeps Growing and Stock Downgrades: Tough Start to the Week for Finish Line.)
No positions in stocks mentioned.

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