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New Stock Coverage: Hoard up on Extra Space Storage

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

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MINYANVILLE ORIGINAL The Dow (^DJI) dropping by triple digits in panicky selling shared column inches with concerns over Iran, Cardinals World Series talk, and the ageless Rolling Stones. Names may change - disgraced Bernie's are now more likely to be Madoff and Kerik rather than Goetz - but otherwise the front page of October 20, 1987 bears eerie echoes to that of October 20, 2012.

Commodities traders stopped shouting and Google's Larry Page, who recently lost his voice, felt like screaming blue murder after his stock dropped 8.5%. America's largest dairy producer, Dean Foods (DF), surged 22.3% to top the entire S&P 500 Index (^GSPC), but our Russian comrades refused to toast it.

No top-tier economic data due today, but the start of peak earnings week sees Caterpillar (CAT), Freeport McMoRan Copper & Gold (FCX), Hasbro (HAS), Peabody Energy (BTU), Philips Electronics (PHG), SunTrust Banks (STI), Western Digital (WDC), and Yahoo (YHOO) all reporting results.

CAI International (CAP): CAP is covered with an Outperform at Keefe Bruyette, whose price target is $27.

ClearBridge Energy (EMO): The Master Limited Partnership is launched at Neutral by Bank of America-Merrill Lynch.

Exelon (EXC): The nuclear power play is a new Neutral at Credit Suisse, which issues a $35 price objective.

H & R Block (HRB): The tax titan is begun with a Buy at BTIG.

Imax Corp. (IMAX): Shares are initiated with a Buy at Hudson Square Research, whose target is $28.

Ryland Group (RYL): Barclays resumes Overweight rated research on RYL.

Storage Stocks: Goldman Sachs adds Extra Space Storage (NYSE:EXR) to its Conviction Buy List with a target price of $40. Meanwhile Public Storage (NYSE:PSA) is picked up with a Neutral and assigned a $147 price objective.

United Natural Foods (UNFI): Shares are a new Neutral at Goldman Sachs, which establishes a price objective of $57.

Wendy's (WEN): The fast food firm is a fresh Neutral at Credit Suisse.

(See also: Stock Downgrades: Porsche Poised to Crash? and Stock Upgrades: Beam in High Spirits.)
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No positions in stocks mentioned.
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