New Stock Coverage: Randgold Resources -- It's Even Better Than Finding $10 Million in a Can

By Justin Sharon  FEB 26, 2014 9:23 AM

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

 


In honor of dearly departed director Harold Ramis, whose most memorable movie depicts a weatherman stuck in an unending rut, stocks slipped after economists went all Groundhog Day on us again, once more blaming meteorological matters for another set of disappointing data. Goldman Sachs (NYSE:GS), which gapped down 1.84%, dragged on Dow Industrials (INDEXDJX:.DJI). The firm had an inadvertent hand in enlivening what was an otherwise desultory trading day, however, as its elevator imposter was finally outed. Clearly, despite the country's Adam Smith having invented economics, Scotland has not a single employee at the fabled financial institution. For, as a viral video shows, voice-recognition elevators utterly fail to understand the impenetrable accents of its citizens. As a wag once put it, the difference between the New York mafia and its Glaswegian equivalent is that the former make you an offer you can't refuse, while the latter make you one you can't understand. Regardless, yesterday was actually a fine time to wake up with a Horsehead Holding (NASDAQ:ZINC) in your bed (or minimally under your mattress) as that stock advanced 1.93% to a fresh best on its impressive earnings. Alas, China's year of the horse is off to an awful start, with the yuan slumping for a sixth straight session. And, continuing our equine analogies, billionaire Bill Gross whined "if only Mohamed would let me, I could run all the $2 trillion myself. I'm Secretariat."

Today in economics, a decline is forecast for January new-home sales at 10:00 a.m. Eastern. On the earnings front, Abercrombie & Fitch (NYSE:ANF), Barnes & Noble (NYSE:BKS), Cablevision (NYSE:CVC), and Dollar Tree (NASDAQ:DLTR) all release results.

Atlas Pipeline Partners (NYSE:APL): Deutsche Bank has a Hold on the limited partnership.

CHC Group (NYSE:HELI): Shares are a Sector Perform at RBC Capital, whose price objective is $11. A relative absence of free cash flow generation should see shares range-bound, the broker believes.

EP Energy (NYSELEPE): Deutsche begins Buy-rated research, assigning a $23 target price.

Incyte (NASDAQ:INCY): The stock is launched with a Buy at Bank of America-Merrill Lynch, whose objective is $84.

La Jolla Pharmaceutical (NASDAQ:LJPC): Wedbush, with a $27 target, rates the equity an Outperform. Shares are surging this morning as a result.

Nutraceutical (NASDAQ:NUTR): NUTR is a new Outperform at Imperial Capital, whose target is $32.

Randgold Resources (NASDAQ:GOLD): You could find $10 million worth of gold coins while walking your dog. Or, you could be in the catbird seat by purchasing this stock. Today UBS assigns the commodity company, involved in exploration of the yellow metal in sub-Saharan Africa, a bullish Buy rating.

Trevena (NASDAQ:TRVN): Barclays establishes an Overweight rating, and $14 objective, on the biotech.

Vodafone (NASDAQ:VOD): Shares are resumed with an Overweight, also by Barclays.

See also:

Stock Upgrades: LinkedIn Can Be Big in Beijing (MVPRO article)

Stock Downgrades: An Oscar-Week Nightmare for Dreamworks (MVPRO article)
No positions in stocks mentioned.

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