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New Stock Coverage: Kiss Estee Lauder as if It Were the Last Time


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

"Nationality?" -- "Russian."
"Occupation?" -- "No, no, just visiting."
Nothing like a bit of Soviet-style humor and, in a market like Monday's, ya gotta laugh. But not all the way to the bank, for your winnings wouldn't have stretched that far after stocks endured their steepest slide in a month amid more angst by the Black Sea. So is this the long-awaited correction? Let's not be too hasty, as they often take time -- 161 years in the case of the New York Times (NYSE:NYT) -- and equities appear poised to rebound strongly this morning. Yesterday, however, the Red Army turned the Dow (INDEXDJX:.DJI) a deep shade of crimson. The mere threat of a retaliatory visa ban by Secretary of State John Kerry sent Visa (NYSE:V) -- although not those humorous border patrol agents alluded to above -- scurrying for cover. Its stock slumped 1.99% to lead blue chips lower; is Sochi really "everywhere you want to be?" Kinross Gold (NYSE:KGC) got a broker boost as bullion, fresh from February's 10% surge, added on another 2%. Surely, however, the sign of a top in the precious metal promptly arrived in the form of a Vegas pawnbroker being asked to pontificate on its prospects by CNBC. Far better to stick with Old Gold owner Lorillard (NYSE:LO) instead, after the cigarette stock topped the entire S&P 500 Index (INDEXSP:.INX) with its 9.27% advance to a historic high. For those who prefer to smoke something slightly stronger, Cara Therapeutics (NASDAQ:CARA) -- which has a pre-clinical cannabis compound -- jumped 12.71%. "Alright, alright, alright," in the words of a Dazed and Confused actor newly honored by Oscar.
There aren't any economic reports of note released today, but earnings announcements are expected out of AutoZone (NYSE:AZO), Bank of Nova Scotia (NYSE:BNS), and Smith & Wesson (NASDAQ:SWHC).
Argos Therapeutics (NASDAQ:ARGS): More good news for the stock, which surged some 7.84% on Monday even amid an overall market bloodbath. This morning it is begun at Outperform by JMP Securities, whose price objective is $17.
Avon Products (NYSE:AVP): UBS starts Sell-rated research with a $14 target price.
Constant Contact (NASDAQ:CTCT): Roth Capital resumes Buy-rated research on the company.
Consumer Products: UBS starts Sells on Clorox (NYSE:CLX) ($80 objective) and Energizer (NYSE:ENR) ($92.) It has new Neutrals on dual Dow components Coca-Cola (NYSE:KO) ($40) and Procter & Gamble (NYSE:PG) ($81.) Buys are begun on Church & Dwight (NYSE:CHD) ($77), Colgate-Palmolive (NYSE:CL) ($70), and Monster Beverage (NASDAQ:MNST) ($85.)
DreamWorks Animation (NASDAQ:DWA): Topeka has a Hold on the recently troubled movie-maker.
Estee Lauder (NYSE:EL): (Fedora hat tip to Casablanca for today's title.) UBS covers the cosmetics company at a bullish Buy. Its price target is $81.
GT Advanced Technologies (NASDAQ:GTAT): Goldman Sachs starts the equity at a Buy with a target of $20.
Infinity Pharmaceutical (NASDAQ:INFI): Shares are assigned an Underperform with Wedbush.
Ladder Capital (NYSE:LADR): Keefe Bruyette launches LADR at Outperform.
Santander Consumer USA (NYSE:SC): Credit Suisse covers the company at Outperform but RBC Capital rates it only a Sector Perform.
TiVo Inc. (NASDAQ:TIVO): The stock gets begun with a Buy at Topeka.

See also:

Stock Upgrades: Hilton Will Always Have Paris (MVPRO article)

Stock Downgrades: Cliffs Natural Resources Not Worth Hill of Beans (MVPRO article)
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