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New Stock Coverage: Bunge Stock Set to Jump

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

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Shares surged in a holiday-shortened week, with the S&P 500 Index (^GSPC) advancing 4.57% to hit its highest level since the start of the recession in December 2007 after Congress, contemplating the fiscal cliff, decided not to pass the buck itself. (Or words to that effect.) Socialist Hugo Chavez, who said capitalism killed life on Mars, saw his home market go to Pluto, with the Venezuela bourse jumping 302.81% to post the planet's best performance in 2012. Gap Inc. (GPS), whose khakis are the chosen attire of two of his fellow dictators even in the afterlife, started 2013 strongly after being anointed company of the prior year. Facebook (FB) began January, a month named after a two-faced Roman god, by gaining 11% after a 180 degree about-face from an analyst previously pessimistic on its prospects.

No top-tier economic data due today, but quarterly earnings announcements are expected out of Commercial Metals Company (CMC), Phillips 66 (PSX), and Zep Inc. (ZEP).

Archer-Daniels Midland (ADM): JPMorgan establishes an Underweight on ADM.

Bunge Limited (NYSE:BG): The agriculture outfit is assigned an Overweight at JPMorgan.

Noble Energy (NBL): NBL is a new Buy at Bank of America-Merrill Lynch.

SodaStream (SODA): Barclays starts Overweight coverage on SODA.

SolarCity (SCTY): Bank of America-Merrill, Goldman Sachs, and Roth Capital all launch Buy rated research on the recent IPO. Credit Suisse, at Outperform, is equally upbeat.

Spectrum Brands (SPB): The company, whose offerings include George Foreman, Rayovac, and Remington, is picked up with a Buy at Deutsche Bank.

(See also: Stock Upgrades: Amazon's Money Tree Keeps Growing and Stock Downgrades: Tough Start to the Week for Finish Line.)
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.

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