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New Stock Coverage: Aetna Kicks Into High Gear After $66,100 Bunion Repair Bill


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

Two years ago Aetna (NYSE:AET) had some serious toe trouble over an exorbitant bunion bill, but yesterday its surging stock achieved the remarkable feat of hitting the highest level in its entire history. The health-care-plan provider and insurance outfit has seen its stock jump 30.32% in the past 12 months alone, but at least one equity analyst now has concerns over its resultant valuation.
Until just recently, stocks were setting records with effortless ease but with yesterday's decline Dow Industrials (INDEXDJX:.DJI) have now dropped for three of the past four days. The market's mood has hence changed swiftly and, as they say, "a change is as good as a rest" (Or arrest, as Gordon Gekko's sidekick in Money Never Sleeps can freshly attest.) Still, the damage was light amid yet more anemic trading activity. Indeed, the S&P 500 (INDEXSP:.INX) kept its action to under 1% for a 49th straight session, the longest such stretch since 1995. (That was the year Derek Jeter made his major league debut; yesterday he turned 40.) 1995 was also when Bill Gates moved his "Corbis cave" of Kodak moments to Iron Mountain (NYSE:IRM). Smart move; yesterday that stock surged 20.05%. Camera maker GoPro (NASDAQ:GPRO) was similarly picture-perfect, jumping 30.58% on its IPO to top the Nasdaq (INDEXNASDAQ:.IXIC) as its money-making head honcho quite literally put the company's principal product where his mouth is. Hey, there have been infinitely odder things eaten this week; ask Luis Suárez. The soccer star, who plays in England, is but the latest person to bemoan the sorry, bucked-toothed state of British orthodontics but at least a suddenly-skyrocketing Sirona Dental Systems (NASDAQ:SIRO) added on another 0.88% to hit a historic high amid the red ink. (For what it was worth -- not much, actually -- Diamondback Energy (NASDAQ:FANG) fell 1.40%.) And with the world still mourning the loss of Eli Wallach, star of The Magnificent Seven, gold couldn't quite keep up, with its winning streak snapped at six after ending off 0.4%.
This morning in economics, the University of Michigan's final figure for June consumer confidence is expected to improve at 9:55 a.m. EDT. In earnings action, AZZ Incorporated (NYSE:AZZ), Finish Line (NASDAQ:FINL), and KB Home (NYSE:KBH) all release results.
Now let's turn to this morning's new stock coverage, a list that includes both a Dow component and a Sin City casino company in addition to Aetna.

Aetna: Today's headline analyst initiation is a new Neutral at Sterne Agee, whose price objective is $87.
Cerner (NASDAQ:CERN): Shares are begun with a Buy and $58 target price at Topeka Capital Markets, which cites good international growth and outsourcing opportunities.
Cigna (NYSE:CI): Sterne Agee starts the stock at a Buy.
Datawatch (NASDAQ:DWCH): The company is covered at Outperform ($18 objective) at Imperial Capital, which says a recent share-price retrenchment represents a buying opportunity.
Dot Hill Systems (NASDAQ:HILL): Roth Capital resumes the equity at a Buy. Its price target is $7.
Ecopetrol (NYSE:EC): Shares are initiated with an Underweight by Barclays, whose target is $37.
Flowserve (NYSE:FLS): Goldman Sachs has a fresh Sell on FLS.
UnitedHealth (NYSE:UNH): The blue chip gets begun at Underperform by Sterne Agee.
Wynn Resorts (NASDAQ:WYNN): Buckingham Research starts the stock at a Buy.

Also see:

Stock Upgrades: Teutons Topple Team USA, but Nike Is Still Just Doing It Best

Stock Downgrades: Luis Suarez Sponsor Standard Chartered Kicked in the Teeth
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