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New Stock Coverage: Go Long, CVS Caremark -- Very Long -- Take a Look at Its Receipts


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

They are not long, the days of wine and roses.
Ernest Dowson

(Quite right. As we shall soon see, they are certainly not as long as the receipts at CVS Caremark (NYSE:CVS).) The world's largest winemaker Constellation Brands (NYSE:STZ) surged some 9.55% in hitting a historic high, and Roseland, New Jersey-based Automatic Data Processing (NASDAQ:ADP) announced the biggest jump in US private payrolls in a year, yet the feel-good factor engendered by each was indeed over in an instant. US stock markets went nowhere fast, with the S&P 500 Index (INDEXSP:.INX) having now fallen in four of its first five sessions this year. As for the Dow (INDEXDJX:.DJI), Microsoft (NASDAQ:MSFT) was its worst component with a 1.79% tumble. It's thus tough to tell who is more angry - Bill Gates or Bob Gates. Neither are likely as furious as Bill Ackman, a latter-day Barbarian at the Gates, who has now lost half a billion bucks after seeing his favorite short Herbalife (NYSE:HLF) attain another historic high in advancing 2.08%. The Insane Clown Posse was equally mad, perhaps inspired by Ronald after McDonald's (NYSE:MCD) dropped 1.01% on a rating reduction. Japan and China, already threatening each other with annihilation over a bunch of inconsequential wind-swept islands, are now comparing one another to the evil Lord Voldemort, arch villain of Harry Potter infamy. If it's any consolation, Sony (NYSE:SNE) surged 5.37% on news that Beijing will now allow its consoles. And a broker boost saw Chipotle Mexican Grill (NYSE:CMG) buck a bad day to end up 0.52%. Because, well, what a country of couch potatoes most needs is a burrito vending machine.

There aren't any top-tier economic events to move US markets today. Regarding specific stocks, Alcoa (NYSE:AA) unofficially ushers in fourth-quarter earnings season when it announces after the closing bell, with Acuity Brands (NYSE:AYI), PriceSmart (NASDAQ:PSMT), Supervalu (NYSE:SVU), Texas Industries (NYSE:TXI), and Synnex (NYSE:SNX) also due to release results.

Bank of America (NYSE:BAC): The stock, off to a stellar start this year, is a new Buy at Nomura. The price target is $19.

CVS Caremark (NYSE:CVS): This is no time to short CVS Caremark, the company whose voluminous receipts border on parody. The stock, up 39.96% in the past year having hit a historic high in late December 2013, is today launched with an upbeat Outperform at Leerink.

Liberty Media (NASDAQ:LMCA): Northland Capital has a new Outperform opinion and $160 price objective on Liberty Media stock. Last week, Liberty Media offered to buy Sirius XM (NASDAQ:SIRI), surging home of Howard Stern, for $10.6 billion.

Rex Energy (NASDAQ:REXX): REXX is resumed with an Outperform at Northland Capital, whose target price is $25.

Spirit Realty Capital (NYSE:SRC): Deutsche Bank begins Buy-rated research. Its objective is $11.

Twitter (NYSE:TWTR): Twitter stock, falling for a fourth straight session even as we speak, is today assigned a pessimistic Underperform at Cowen. Its target is $32.

XOMA Corporation (NASDAQ:XOMA): Shares are begun with a Buy at Jefferies.

Woodward (NASDAQ:WWD): Stifel has a Buy rating and $52 objective on a stock it says is a key player in the energy control arena.

(See also: Stock Upgrades: Johnson & Johnson Is All About the Benjamins and Stock Downgrades: Fast Money Can't Flee Sprint Quick Enough)
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