Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

New Stock Coverage: Vice Stock Reynolds Is Smoking Hot


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

Humpty Dumpty, who just suffered a tragic fall, may prove impossible to put back together again, but there are no such worries surrounding Camel cigarette owner Reynolds American (NYSE:RAI). The stock, a stellar performer of late, is up another 1.99% even as we speak. This, amid renewed talk of acquisition activity today.
On the very day legendary Jake Lamotta turned 93 years young, this long-in-the-tooth run in equities suddenly looks like an aging, rather than Raging, Bull. (Certainly one hopes that Robert De Niro, who piled on 60 pounds for a single Oscar-winning scene in the movie, didn't do so at Potbelly (NASDAQ:PBPB). Not after the sandwich shop nosedived a Nasdaq (INDEXNASDAQ:.IXIC)-worst 25.12% to a lifetime low.) The Dow (INDEXDJX:.DJI) and S&P 500 (INDEXSP:.INX) each endured a torrid time of it on a day it definitely didn't pay to pack on the pork. It was indeed "That's all, folks" for Portugal's Prime PIIG Banco Espírito Santo (ELI:BES), which slid some 17.24%. A wag tweeted two weeks ago that Team USA outsourced its most momentous goal ever to Portugal's main man, but was that really so bad? After all, Indian IT giant Infosys (NYSE:INFY) -- the largest outsourcer on planet Earth -- increased 1.13% even amid Thursday's red ink, and hours ago announced its quarterly profit rose a tidy 21.6%. European shares fell for a fifth day, and -- if I may pilfer the soccer slogan of Portugal's prized colonial conquest Brazil, five-time World Cup winners -- "Brace yourselves! The 6th is coming!" (That tagline took on extremely unfortunate overtones as those German goals began flying in on Tuesday.) Among equities on the move, (NASDAQ:AMZN) ended off 0.62% after being sued by the Federal Trade Commission. It went public as an online bookseller in 1997, the same year that Rotten Heart of Europe: The Dirty War for Europe's Money was published as a paperback. Trust me -- in light of yesterday's incontinent events on the continent, this is one time when you can judge a book by its brilliant cover.
There aren't any top-tier economic reports due today. In earnings action, our aforementioned Infosys, along with Wells Fargo (NYSE:WFC), each released results earlier this morning.
Now let's turn to this morning's new stock coverage, a list that includes a trip of other tobacco titans in addition to Reynolds American.

Cigarette StocksAltria (NYSE:MO) is an Outperform at Cowen, whose price objective is $47. Lorillard (NYSE:LO) rates an Underperform. Philip Morris International (NYSE:PM), meanwhile, gets picked up at Market Perform with a $91 target price.
MacroGenics (NASDAQ:MGNX): Shares are an Outperform ($48 objective) at Oppenheimer, which cites its advanced protein therapeutic platform technology.
Reynolds American: Today's headline stock is a Perform at Cowen, whose target is $62.
Sterling Bancorp (NYSE:STL): Shares are begun with a Buy and $14 price objective at Jefferies.

Also see:
Stock Upgrades: Casual Friday Suits Joe's Jeans Just Fine

Stock Downgrades: It's Time to Stop Pampering Procter & Gamble
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos