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New Stock Coverage: Absolutely No Cause for Alarm at ADT

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

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Despite the best efforts of the Fighting Irish - Bank of Ireland (IRE) bucked a bad tape to surge 5.32% - a Crimson Tide prevailed over Wall Street, with the Dow (^DJI) dropping for a second time in three sessions. Staples (SPLS), a big believer in robots, rose 1.96% but the big banks had reason to curse a robo-signing scandal. Spectrum Brands (SPB), whose products include the George Foreman Grill, gained 2.74% to an all-time high on upbeat analyst chatter. Alas this means the boxing champ will indeed be forced to "pay a lot" for the equity, although the mufflers at Volkswagen (PINK:VLKAY) were dirt cheap as a ratings reduction sent it tumbling 2.27%. Sears (SHLD) is surging 2.28% ahead of this morning's opening bell on news hedge fund heavyweight Edward Lampert will take over as CEO because, well, hedge funds have such a phenomenal track record.

Today in economics, November consumer credit is expected to contract at 3:00 p.m. Eastern. In corporate action, Alcoa (AA) unofficially ushers in fourth quarter reporting season when it announces earnings after the close. Acuity Brands (AYI), Apollo Group(APOL) and Monsanto (MON) are also all due to release results.

ADT Corp. (NYSE:ADT): Stifel Nicolaus starts the home security stock at a Buy with a price objective of $56. Its growth rate is seen improving in upcoming years as a trend of Interactive and Home Automation services gains increasing traction.

Alcohol Stocks: Wine giant Constellation Brands (STZ) is begun with a Buy at ISI Group, which has a new Neutral on beer behemoth Molson Coors Brewing (TAP).

Alon USA Partners (ALDW): Citigroup launches the limited partnership at a Neutral and assigns it a $20 target price.

Boulder Brands (BDBD): The firm formerly known as Smart Balance is a new Neutral at SunTrust.

CAI International (CAP): William Blair covers the company at Outperform.

Covanta (CVA): The stock is a fresh Overweight at JPMorgan.

Delphi Automotive (DLPH): Shares are assigned an Outperform at Crédit Agricole.

Imperva (IMPV): The application software outfit is initiated with a Market Perform at JMP Securities.

MPLX LP (MPLX): The oil and gas pipeline play is picked up with a Market Perform at Wells Fargo.

Silver Bay Realty Trust (SBY): JMP Securities starts the stock at Outperform but both Bank of America-Merrill Lynch and JPMorgan (each a Neutral) are less bullish.

SolarCity (SCTY): Shares are picked up at Market Perform by Raymond James.

Stericycle (SRCL): Barclays starts Equal Weight rated research on SRCL.

(See also: Stock Upgrades: Love in the Air for Southwest and Stock Downgrades: Boeing Going, Going, Gone.)
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No positions in stocks mentioned.
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