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New Stock Coverage: Dollars in Donuts for Dunkin'

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

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MINYANVILLE ORIGINAL Despite the best efforts of Tiny Tim, stocks started December more Scrooge than A Christmas Carol. Shares snapped a three-session winning streak, with the Dow (^DJI) dropping back below 13,000 after our Treasury Secretary took to the Sunday talk shows to say the wealthy should pay more taxes to help tackle our fiscal cliff, which coming from him really is a bit rich.

Markets moved lower as a key manufacturing gauge fell to its lowest level since July 2009. Mercifully, however, the head of the organization that released the data didn't opt for the all too easy excuse of Sandy, unlike assorted economists, bankers, and politicians. Negating the gloom on this side of the Atlantic was the great news that Greece's financial crisis has been "settled" - who knew it was that easy? - in the words of French President François Hollande. With a last name like that, he may be interested to know the beleaguered Club Med country was again forced to undergo a Dutch auction in yet another attempt to address its debt.

No top-tier economic data due today, but quarterly earnings announcements are expected out of AutoZone (AZO), Big Lots (BIG), Mattress Firm Holding (MFRM), Oxford Industries (OXM), Pandora Media (P), Powell Industries (POWL), Toll Brothers (TOL), and Vail Resorts (MTN).

Alexza Pharmaceuticals (ALXA): Shares are initiated with a Buy at Roth Capital, whose price target is $10.

Corning (GLW): Sanford Bernstein starts Outperform rated research an issues a price objective of $15.20.

DSW Inc. (DSW): The footwear firm is a fresh Outperform at William Blair, which estimates long-term earnings growth of 15% to 20% per year.

Canadian Banks: Citigroup begins Buys on both Royal Bank of Canada (RY) and Toronto-Dominion Bank (TD) and has a new Neutral on Bank Of Nova Scotia (BNS).

Food & Beverage Stocks: Longbow launches Buy rated coverage on Caribou Coffee (NASDAQ:CBOU) ($17 target), Dunkin' Brands (NASDAQ:DNKN) ($40), Starbucks (NASDAQ:SBUX) ($63), Tim Hortons (NYSE:THI) ($60), and TreeHouse Foods (NYSE:THS) ($63.) It has a new Neutral on WhiteWave Foods (NYSE:WWAV).

Flowserve (FLS): Shares are a new Buy at KeyBanc.

Lehigh Gas Partners (LPG): Robert W. Baird has a new Neutral, with a $26 target.

Medivation (MDVN): The stock is begun with an Equal Weight at Barclays.

NCI Building Systems (NCS): NCS is a new Outperform at FBR Capital, which says it can be an early beneficiary of improving nonresidential construction spending in the US.

(See also: Stock Downgrades: Match.com Owner IAC/InterActive Looking for Love in All the Wrong Places and Stock Upgrades: PIIGS Got You Down? Invest Instead in Pork Producer Smithfield Foods.)
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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