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New Stock Coverage: D-Day for Sabre Rattling


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

It's another day, another upbeat initiation for analyst darling Sabre Corp (NASDAQ:SABR). The online travel company, which owns Travelocity, is picked up with a bullish Outperform rating by a broker who hails its recurring revenue, defensive characteristics, and worldwide tentacles.
The world today remembers 1944 and the windswept beaches of northern France. Yet it was 1940 -- with its Blitz, the Battle of Britain, and Dunkirk -- that Winston Churchill called "The most splendid, most deadly year." Eerie, then, that the S&P 500 Index (INDEXSP:.INX) starts the 70th anniversary of D-Day trading at 1940. The benchmark bourse does so after both it and Dow Industrials (INDEXDJX:.DJI) rose to records upon learning of Mario Draghi's interest rate easing actions in Europe. Mr. Draghi has a degree in "the dismal science" from MIT and -- on what was remarkably the birthday of both Adam Smith and John Maynard Keynes -- economic data predictably held sway. This included the four-week average for unemployment claims falling to the lowest since June 2007. That month we learned of a hitherto-undiscovered tribe in the Amazon. Lucky them, to have lived so long in such unwired bliss. Amazon (NASDAQ:AMZN) will never allow that, although to be fair, its stock did just surge 5.47%. Protective Life (NYSE:PL) ended lower on a rating reduction, this only 24 hours after jumping 18.12% on news it was being bought for $5.7 billion by Tokyo's own Dai-ichi Life (OTCMKTS:DCNSF). We wish the corporate combination a long life even if it appears that, in Japan, matrimony is now not a matter of "Till death us do part." These days, Venus divorces Mars cause he's just not that into Frozen. Speaking of frozen and the Red Planet, Minnesota was colder than Mars this winter, and utterly unloved Gopher State fitness firm Life Time Fitness (NYSE:LTM) continues to cool off even in June after it imploded an NYSE-worst 11.69%.
It's quite a quiet Friday for quarterly earnings announcements, although Sears Hometown and Outlet Stores (NASDAQ:SHOS) released results earlier this morning. In economic action, April consumer credit is expected to contract from the prior month's pace at 3:00 p.m. EDT.
Now let's turn to this morning's new stock coverage, a list that includes a couple of other travel-related shares in addition to Sabre Corp.

Alpha Bank (OTCMKTS:ALBKY): Shares get resumed with a Buy at Goldman Sachs.
Bloomin' Brands (NASDAQ:BLMN): Buckingham Research begins the Outback Steakhouse owner at a Buy. Its target price is $26.
Cheetah Mobile (NYSE:CMCM): Shares are currently adding to yesterday's 4.45% advance before the bell. This, after being begun by JPMorgan at Overweight.
Impax Labs (NASDAQ:IPXL): WallachBeth has a Buy rating and $32 price objective amid the prospect for a pick up in deal activity.
Republic Services (NYSE:RSG): RSG is resumed with an Outperform at Imperial Capital, which expects increased free cash flow.
Rouse (NYSE:RSE): RBC Capital covers the company at Outperform with a $19 target.
Sabre Corp: Today's headline analyst initiation is established at Outperform by Imperial Capital, whose price objective is $24.
Theravance Biopharma (NASDAQ:TBPH): Bank of America Merrill Lynch launches Buy-rated research.
Thomas Cook (OTCMKTS:TCKGY): The British travel agent gets begun with a Buy at Berenberg.
TripAdvisor (NASDAQ:TRIP): Shares are a new Neutral ($105 price target) at SunTrust.

Also see:

Stock Downgrades: Peabody Energy Is No Sherman Tank

Stock Upgrades: Jakks Pacific Storms the Beaches
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No positions in stocks mentioned.
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