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New Stock Coverage: Victoria's Secret Owner Limited Brands Has Something to Hide


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

MINYANVILLE ORIGINAL On the day we said a sad goodbye to the oldest person on Earth, 116 year-old Besse Cooper, the Dow Industrials (^DJI) - which also entered the world in 1896 - fell for a second straight session to start December. Olive Garden owner Darden Restaurants (DRI), whose ads are pure parody if you're a proud pizano, dropped 9.58%. Turning from the country shaped like a boot to a company given the boot by Goldman Sachs (GS), footwear firm DSW Inc. (DSW) had the last laugh. It gained 4.03% to the highest level in its history after an upbeat analyst initiation. Lens maker Coastal Contacts (COA) imploded 11.50% on a day all eyes were on the Buckeye State.

CBS's vision was firmly focused on the Victoria's Secret Fashion Show, but that failed to prevent corporate parent Limited Brands (LTD) backing off from Monday's all-time best. Instead, it was fellow Columbus native Big Lots (BIG) that stole the show with an impressive 11.52% advance. Today in economics, October factory orders and the Institute for Supply Management's November services index are each out at 10:00 a.m. Eastern.

On the earnings front, Ascena Retail Group (ASNA), Brown-Forman (BF.B), Francesca's Holdings (FRAN), Finisar (FNSR) Men's Wearhouse (MW) and Vera Bradley (VRA) are all due to report results.

Bankrate (RATE): RATE is initiated with a Buy at Needham, which issues a price objective of $15. Catalysts include pricing power and considerable barriers to entry.

Boyd Gaming (BYD): Shares are reinstated with an Outperform at Credit Suisse, whose target price is $7.

Cabot Oil & Gas (COG): Last year's top S&P 500 (^GSPC) stock is a new Neutral at UBS.

Carriage Services (CSF): The equity is a fresh Outperform at Barrington.

Covanta (CVA): Lazard launches Buy rated research on CVA.

Cummins (CMI): Shares are initiated with an Outperform at Robert W. Baird.

Honeywell (HON): Stifel Nicolaus has a Buy on HON, whose positives include an attractive business portfolio and strong execution. The target is $72.

LATAM Airlines (LFL): The Santiago based company is a new Equal Weight at Evercore.

Limited Brands (NYSE:LTD): Shares are a new Perform at FBR Capital, whose target is $50. After over two years of operating margin expansion, top-line momentum has been decelerating at Victoria's Secret and traffic is inconsistent.

Portland General Electric (POR): KeyBanc Capital covers the company at a Hold.

Rackspace (RAX): RAX is initiated with an Overweight at JPMorgan.

Supernus Pharmaceuticals (SUPN): Shares are a new Buy at Lazard Capital.

United Technologies (UTX): The Dow (^DJI) member gets resumed with a Neutral at Goldman Sachs.

Waste Connections (WCN): Goldman rates the stock a new Neutral.

WhiteWave Foods (WWAV): Shares are initiated with a Buy at Bank of America-Merrill Lynch and an Overweight at JPMorgan.

(See also: Stock Upgrades: Goldman Finds Treasure in Trash and Stock Downgrades: Cliffs Natural Resources Has Fiscal Mountain to Climb.)
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