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New Stock Coverage: UnitedHealth Passes Checkup With Flying Colors

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

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MINYANVILLE ORIGINAL On Wall Street, calm came after the storm. Stocks ended essentially unchanged in three post-Hurricane Sandy trading sessions. At the end of a week which saw water, water everywhere, a mermaid emerged from the oceans to send analyst favorite Starbucks (SBUX) surging 10.8%.

Restoration Hardware (RH) surged 29.58% on its first trading day, an appropriately named equity as the Eastern Seaboard starts to rebuild from its superstorm. Elsewhere there were reminders of how little has changed, with Washington continuing to dance on our debt ceiling. Given the perilous state of the Capitol dome's own roof, one shouldn't hold out high hopes for a resolution.

Today in economics, October's Institute for Supply Management services index is out at 10:00 a.m. Eastern. On the corporate front, quarterly earnings are expected out of Consolidated Edison (ED), Humana (HUM), IntercontinentalExchange (ICE), Sysco (SYY), Time Warner Cable (TWC), Toyota Motor (TM), Transocean (RIG), and Zillow (Z).

ADT Corp. (ADT): Shares are initiated with a Buy at Citigroup, whose target is $48.

Ambarella (AMBA): The stock is begun with a Buy at Deutsche Bank.

Amira Nature Foods (ANFI): Shares are initiated with a Buy at Jefferies, whose target is $11.

Charter Communications (CHTR): The stock is an Underweight at Barclays.

Costco (COST): COST is covered with an Outperform at BMO Capital.

Ellington Financial (EFC): EFC is initiated with a Buy at Maxim Group.

Grupo Financiero Santander Mexico (BSMX): Shares are initiated with a Buy at Citigroup.

Kythera Biopharmaceuticals (KYTH): The stock is a new Neutral at Goldman Sachs.

Metals USA (MUSA): MUSA is an Outperform at Wells Fargo.

Shutterstock (SSTK): The digital imagery outfit is a Hold at Deutsche Bank.

UnitedHealth (NYSE:UNH): The newest Dow (^DJI) member is reinstated with an Outperform at Credit Suisse, whose price objective is $63.

Workday (WDAY): Shares are a Buy at Canaccord Genuity.

(See also: Stock Downgrades: DuPont Losing Its Teflon Touch and Stock Upgrades: The Force Is With Walt Disney.)
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No positions in stocks mentioned.
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