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New Stock Coverage: Intel Is Not Paranoid -- The Analyst Really Dislikes It


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

If history is any indication, yesterday saw a spike in heart attacks, but there was precious little to get the pulses racing on Wall Street. Tickers, coronary and otherwise, barely budged as the S&P 500 Index (INDEXSP:.INX) ended off all of 0.87 point as the cathedral of capitalism continued to take its curious cue from Mother Russia and Red China. Developments by the Black Sea continued to percolate and, amid dreadful economic data out of Beijing, Boeing (NYSE:BA) dropped a Dow (INDEXDJX:.DJI)-worst 1.28% after its tragedy over the South China Sea. Chiquita Brands (NYSE:CQB) jumped 10.70% after announcing a $526 million merger with Fyffes (OTCMKTS:FYFFF), itself up 52.17%. (Major props to the TV presenter whose Twitter (NYSE:TWTR) handle is a clairvoyant "There's always money in the banana stand.") Facebook (NASDAQ:FB) gained 3.19% to hit another historic high, so suddenly the $1 billion it spent on attracting the Rich Kids of Instagram seems well spent. Kids? Septuagenarian comedian Bill Cosby will see the funny side of Mark Zuckerberg's incessant quest for youth. A sell rating saw Cliffs Natural Resources (NYSE:CLF) fall off a -- well, you know -- in slumping 3.75% to lead S&P laggards. This, as a Puerto Rican rapper pushing his Maserati off a cliff proved a perfect metaphor for both the stock and his homeland's current debt crisis.
Today in economics, January wholesale inventories are expected to tick up at 10:00 a.m. Eastern. In earnings action, expect earnings announcements out of American Eagle Outfitters (NYSE:AEO), Caesars Entertainment (NASDAQ:CZR), and Dick's Sporting Goods (NYSE:DKS).
American Realty Capital (NASDAQ:ARCP): Robert W. Baird resumes the stock at Outperform and assigns it a price objective of $17. The debt situation is seen as improving steadily in the upcoming year.
Cisco Systems (NASDAQ:CSCO): The company, a key Dow component, is initiated at Outperform by Sanford Bernstein. Its target price is $30.
Daimler (OTCMKTS:DDAIF): Berenberg gives the German automotive giant a Buy rating.
Destination XL Group (NASDAQ:DXLG): The clothing company for "big and tall" guys is covered with a Buy, and $9 objective, at Canaccord Genuity. A ramp up in marketing can act as a catalyst, the broker believes.
Infoblox (NYSE:BLOX): Piper Jaffray picks the stock up at Overweight, sending it up slightly this morning.
Magic Software (NASDAQ:MGIC): Shares are started at Equal Weight by Barclays, whose price target is $9.
Ruckus Wireless (NYSE:RKUS): The stock is established at Underperform ($7 objective) by Bernstein.
Semiconductor StocksAdvanced Micro Devices (NYSE:AMD) and Texas Instruments (NASDAQ:TXN) are both begun with Buys at Ascendiant Capital Markets, which assigns respective price objectives of $5 and $53.75. Intel (NASDAQ:INTC), yesterday's top Dow stock fares less well, however. The company whose longtime CEO once wrote a book called Only the Paranoid Survive could be forgiven Ascendiant Capital really doesn't like it. Shares are slapped with a Sell and $20 target.
Team Health Holdings (NYSE:TMH): UBS assigns a Buy on TMH.

Also see:
Stock Downgrades: Wall Street Hates State Street (MVPRO article)

Stock Upgrades: Go Bananas for Apple and Bank of New York Mellon (MVPRO article)
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No positions in stocks mentioned.
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