New Stock Coverage: Time to PayPal Around With eBay

By Justin Sharon  FEB 28, 2013 9:15 AM

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

 


The Dow (^DJI) hit its highest level since October 15, 2007, an idyllic age so distant that the day’s headlines centered on how “magical” Greece was. JPMorgan (JPM), up 3.53%, bested all blue chips. I guess it’s hard to be humble when you’re that good, although Jamie’s arrogance with Mayo didn’t pass muster with many. 
 
A beloved LinkedIn (LNKD) enjoyed its Mountain View, surging 6.83% to an historic peak, which should please that chap whose profile declared, “My goal is world domination of the military industrial complex.” Speaking of, while US January durable goods showed a startling 45.7% drop in defense-related aircraft orders, our Nobel Peace Prize-winning allies across the Atlantic basked in a 7.58% surge in arms maker and defense contractor European Aeronautic Defence and Space Company (PINK:EADSY), which now stands at its loftiest since going public in July 2000.
 
And the Frenchman who inspired Occupy Wall Street passed away. His last day on Earth, twenty-four hours previously, saw Titan International (TWI) fall 15.2% on an otherwise big up day in equities. Poetic justice for all Parisian anti-capitalists.
 
Today in economics, analysts expect a slight slippage in the Chicago Purchasing Managers Index for February at 9:45 a.m. Eastern. In earnings action, Ahold (PINK:AHONY), Barnes & Noble (BKS), Cablevision (CVC), Deckers (DECK), Gap (GPS), Iron Mountain (IRM), Kohl’s (KSS), Molycorp (MCP), Palo Alto Networks (PANW), Royal Bank of Scotland (RBS), and Sears Holdings (SHLD) are all due to report results.
 
Apollo Investment (AINV): The stock is assigned a Buy at UBS, whose target price is $10.
 
eBay Inc. (NASDAQ:EBAY): BMO Capital beings Buy rated coverage on the online auctioneer, whose wholly owned PayPal unit is capturing a growing share of global business. Its price objective is $64.
 
Fusion-io (FIO): Mizuho has a fresh Buy on FIO and assigns a price objective of $22. Upside is expected to fiscal 2014 earnings estimates and a takeover at a hefty share-price premium cannot be entirely ruled out either, in the broker’s assessment.
 
Red Hat (RHT): Shares are a new Overweight at Barclays.
 
Regeneron Pharmceuticals (REGN): Barclays resumes Overweight rated research on REGN.
 
VMware (VMW): The tech stock is picked up with a Hold at Stifel Nicolaus.

(See also: Stock Upgrades: The Earth Just Moved for Joy Global and Stock Downgrades: Groupon Is Thursday’s Disaster du Jour.)
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.