In April, Sportsman's Warehouse
(NASDAQ:SPWH) priced its initial public offering somewhat below expectations, but the stock, up 4.77% on Friday, appears to have found its footing. Today the sports retailer founded in 1986 attracts a slew of mostly upbeat analyst initiations. Even Robert W. Baird, while assigning only a Neutral on the name amid valuation concerns, acknowledges the solid long-term growth prospects that Sportsman's Warehouse offers investors.
How Mr. Market misses his Girls
. My theory, first expressed in March
, that the disappearance of Lena Dunham from our TV screens may be terrible for technology, is thus far panning out as predicted. Nasdaq
(INDEXNASDAQ:.IXIC) endured its worst week in a month, with tech tumbling 1.15% to post easily the poorest performance of all 10 Dow Jones
(INDEXDJX:.DJI) industry groups. Silicon Valley
citizens to slump last week ran the gamut from an 8% implosion in Yahoo
(NASDAQ:YHOO) to a record 18% tumble in Twitter
(NYSE:TWTR). Apple Inc.
(NASDAQ:AAPL), which fared a bit better, is ill-advisedly
calling upon a Dr. Dre a day by assiduously courting Beats. This, as the heart of its key competitor
missed a beat (we wish him a rapid recovery). Pfizer's
(NYSE:PFE) bid for Britain's AstraZeneca
(NYSE:AZN) remains up in the air, but English understatement, not hitherto associated with American capitalism, is suddenly all the rage. Marissa Mayer told TechCrunch that her paying Henrique de Castro $58 million for 15 months' work was "Regrettable." And Bank of America's
(NYSE:BAC) Brian Moynihan called a $4 billion accounting error "disappointing." I'll say.
It's quite a quiet day in economic data, but Elizabeth Arden
(NYSE:MCK), and Rackspace
(NYSE:RAX) are all due to release quarterly results.
Now let's turn to this morning's new stock coverage, a list that includes a medical appliance outfit in addition to Sportsman's Warehouse.
(NYSE:AYR): Cowen covers the company at Outperform.
(NASDAQ:CSII): Bank of America Merrill Lynch launches the medical appliance firm at a Buy.
Dick's Sporting Goods
(NYSE:DKS): Shares are assumed with an Outperform at Credit Suisse, whose price objective is $65.
(NASDAQ:ELGX): The stock is a new Neutral at JPMorgan.
(NYSE:MC): JMP Securities starts the stock at Outperform.
(NYSE:PAYC): PAYC is picked up with an Outperform at Pacific Crest, whose target price is $18.
: As mentioned, Robert W. Baird (Neutral and $10 target) is relatively unimpressed on today's headline equity, but Goldman Sachs (Buy with a $13 objective), Piper Jaffray (Overweight), and William Blair (Outperform) are all more upbeat.
(NASDAQ:TRIV): Shares are begun with a Buy at Stifel.
(NASDAQ:WB): Piper Jaffray initiates the equity at Overweight.
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No positions in stocks mentioned.
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