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New Stock Coverage: On 3 December, Buy 3D Systems


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

For a while there on Wall Street, making money was as easy as ABC. Not least for the thief who told police, "I work for ABC carpet and I am taking it for a cleaning," when caught stealing over 50 rugs from JPMorgan Chase (NYSE:JPM). It still is for AmerisourceBergen Corp. (NYSE:ABC), which yesterday bucked a bad tape to touch the highest level in its history. Elsewhere, however, it appears that the stock market has suddenly hit an air pocket. The Dow (INDEXDJX:.DJI) and S&P 500 Index (INDEXSP:.INX), each on record-setting runs of late, endured a second straight late-session sell-off. Among stocks on the move, Twitter (NYSE:TWTR) tumbled 1.90% as its underwriters, respecting the company's post-IPO "quiet period," finally started singing like canaries on the bluebird. (Quiet period; how terribly quaint. Twitter began attracting gushing "Buy" ratings even before it went public.) Exactly a dozen years after Enron (cash on hand the day it went under: $2 billion) filed for bankruptcy, (NASDAQ:AMZN) (current profit: $0) hit an all-time high as its Time magazine Man of the Year in 1999 now limits himself to 60 Minutes. The fast money continued to flee from bullion as the yellow metal, coming off its worst November in 35 years, began December by falling a further 2.3%. This even as a gold medal from one of history's fastest men heads to the auction block. Still, in the long run it's a Marathon Petroleum (NYSE:MPC) - up 5.64% on a broker boost - rather than a Sprint (NYSE:S), down 2.26% on a rating reduction.

There isn't any top-tier economic data to move US markets today, although a deluge awaits later in the week. Regarding specific stocks, Bank of Montreal (NYSE:BMO), Bob Evans Farms (NASDAQ:BOBE), and United Natural Foods (NASDAQ:UNFI) are all due to release results.

Ashford Hospitality Prime (NYSE:AHP): Shares are assigned a Hold at MLV & Co, whose target price is $23.

Brown-Forman (NYSE:BF.B): Bank of America-Merrill Lynch launches Buy-rated research on spirits stock Brown-Forman. Brown-Forman's brands include Jack Daniel's and Southern Comfort.

Continental Resources (NYSE:CLR): CLR is covered at Overweight by Barclays, whose price objective is $138.

Daimler (OTCMKTS:DDAIF): BNP Paribas picks up the luxury German car giant at Outperform.

Micron (NASDAQ:MU): Micron is begun with a Buy rating and $30 target at Needham. The broker says tech stock Micron can achieve multiple expansion and a lessening of its earnings volatility.

Stratasys (NASDAQ:SSYS): Shares are assigned an Outperform and $155 objective at FBR Capital, which notes potential acquisition-related upside in the 3D-printing name.

Tesco (OTCMKTS:TSCDY): Sanford Bernstein gives the British grocer an underwhelming Underperform assessment.

3D Systems (NYSE:DDD): FBR Capital covers 3D-printing stock 3D Systems at an upbeat Outperform. Its price target is $85. The analyst cites an impressive portfolio of patented technologies, among other favorable factors. Over the past year, stock in 3D Systems has surged some 157.96%.

(See also: Stock Upgrades: Apple Is No Longer a Lemon and Stock Downgrades: Disney Cools Off After Red-Hot 'Frozen')
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