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New Stock Coverage: Even Robin Hood Bows Down to Arrowhead Research


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

Hump Day is here again, and last week's iteration saw stocks finish flat as a pancake. So it stands to reason that equities should scale fresh peaks on National Pancake Day. (Unless you fell off an unloved Cliffs Natural Resources (NYSE:CLF), whose 2.05% tumble made it the S&P 500"²s (INDEXSP:.INX) poorest performer on a day the index reached a record.) The benchmark bourse did indeed party, like it's your birthday as tensions eased over Ukraine. The rally was broad based, with the Wilshire 5000 (INDEXNASDAQ:W5000) closing above 20,000 for the first time. (Strictly speaking, the all-encompassing equity metric is now misnamed by some 1,334, but financial types are justly famous for their fuzzy math.) Among stocks on the move, Chipotle Mexican Grill (NYSE:CMG) gained 5.45% to a fresh best, never mind that its principal ingredient may soon be off the menu. The calorie king is rather incongruously sponsoring a bunch of fitness freaks and, turning to another sport (of sorts), on a day markets went to Pluto World Wrestling Entertainment (NYSE:WWE) surged 13.10%. In the wise words of David Letterman, "America is the only country where a significant proportion of the population believes that professional wrestling is real, but that the moon landing was faked." RadioShack (NYSE:RSH) failed to join in the fun, skidding 17.28% for the NYSE's worst showing after shuttering stores. Online shopping thus continues to dispense with all those pesky trips to brick and mortar retailers, although a mall in Minnesota evidently didn't get the memo.

Today in economics, a slight slippage is expected for February's Institute for Supply Management Index at 10:00 a.m. Eastern. At 2:00 p.m., the Fed furnishes its beige book outlining regional financial conditions in a dozen districts. In earnings action, Brown-Forman (NYSE:BF.B), Canadian Solar (NASDAQ:CSIQ), and PetSmart (NASDAQ:PETM) all release results.

Aerospace & Defense Morgan Stanley starts Overweights on Lockheed Martin (NYSE:LMT) and Raytheon (NYSE:RTN), assigning respective price objectives of $190 and $115.

AmerisourceBergen (NYSE:ABC): Shares are initiated with an Overweight by Barclays.

Arrowhead Research (NASDAQ:ARWR): The biotech stock, which jumped 5.28% yesterday, is showing further strength this morning after being begun at a Buy ($45 target) at Deutsche Bank and an Outperform at RBC Capital ($35.) Upcoming HBV (Hepatitis B Virus) data is seen as a potential share-price catalyst.

Cardinal Health (NYSE:CAH): CAH is covered at Overweight by Barclays.

Carrizo Oil & Gas (NASDAQ:CRZO): Imperial Capital assigns an Outperform. Its target price is $60.

Express Scripts (NASDAQ:ESRX): Barclays begins Overweight-rated research.

Forbes Energy Services (NASDAQ:FES): FES is a fresh In-line at Imperial Capital, whose objective is $4.50.

Nimble Storage (NYSE:NMBL): UBS has a new Neutral ($53 target) on the tech name.

Paragon Shipping (NASDAQ:PRGN): PRGN gets picked up with a Buy at Maxim Group, whose target is $10.

Xoom Corp (NASDAQ:XOOM): The equity is initiated with an Underweight at Evercore.

See also

Stock Upgrades: Pandora Proves MTV Was Wrong (MVPRO article)

Stock Downgrades: Is South Jersey Industries the Armpit of America? (MVPRO article)
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