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New Stock Coverage: Monster Beverage Isn't So Scary After All


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

On Tuesday Monster Beverage (NASDAQ:MNST), maker of Peace Tea, lost the battle, but it may yet win the war. Shares slumped 3.28% as Stifel spooked investors by reducing estimates, yet the stock is currently popping back up to the tune of 1.44% after Credit Suisse (NYSE:CS) outlined its bull case on the equity.
Speaking of equity analysts, not even a shocking "Sell" downgrade on Heineken (OTCMKTS:HEINY) -- whose Dos Equis employs "The most interesting man in the world" -- could enliven a desperately dull day trading day. The Dow Average (INDEXDJX:.DJI) and S&P 500 Index (INDEXSP:.INX) each retreated from records despite decent economic data that included a third straight increase for US factory orders. The manufacturing rebound has sadly bypassed the UAW, which had to hike its annual dues for the first time since 1967. Its membership now stands at a scant 391,000, down from a historic high of 1.5 million in 1979. 1979 was when Debbie Harry sung her sad Union City Blue, so just how depressing is the current lowly roll call? Another 68-year-old singer was equally on the money when Cher implored "Come Back to the Five and Dime, Jimmy Dean." Competitors do indeed keep returning to Jimmy Dean sausage owner Hillshire Brands (NYSE:HSH), which advanced an additional 9.48% as a bidding war for its services was taken up yet another notch. Cher, who looks absolutely incredible for her age, may have dabbled in Botox. Bill Ackman certainly has, even as the current object of his affection Allergan (NYSE:AGN) imploded 1.53% on a rating reduction. The activist investor owns a bucket load of Fannie Mae (OTCBB:FNMA), and, as of yesterday, so does his erstwhile enemy Carl Icahn. How odd that Mr. Icahn, having just been smeared by the taint of insider trading in Clorox (NYSE:CLX), would now want to own an outfit whose very name will always be dirty as Mudd.
Today in economics, the Institute for Supply Management's May services index is expected to expand slightly from the prior month's pace at 10:00 a.m. EDT. At 2:00 p.m., the Federal Reserve releases its Beige Book detailing regional financial conditions in a dozen districts. On the earnings front, Brown-Forman (NYSE:BF.B), Hovnanian Enterprises (NYSE:HOV), and PVH Corp (NYSE:PVH) all announce results.
Now let's turn to this morning's new stock coverage, a list that includes several energy companies in addition to Monster Beverage.

Air Methods (NASDAQ:AIRM): KeyBanc Capital covers the company at a Buy. Its price objective is $63.
EXACT Sciences (NASDAQ:EXAS): Shares get assigned a Buy at Goldman Sachs, whose target price is $19.
GTT Communications (NYSEMKT:GTT): The stock is picked up at Outperform by Pacific Crest.
Monster Beverage: Credit Suisse covers today's headline equity at Outperform, assigning it an $82 objective.
NOW Inc (NYSE:DNOW): Shares are a new Neutral ($43 target) at Susquehanna.
Oil Service Stocks: Macquarie assigns Outperforms on Halliburton (NYSE:HAL), Hercules Offshore (NASDAQ:HERO), Parker Drilling (NYSE:PKD), and Schlumberger (NYSE:SLB).
Osisko Mining (OTCMKTS:OSKFF): The stock is resumed at Outperform by RBC Capital Markets, which cites its solid balance sheet and strong free cash among other catalysts.

Also see:

Stock Upgrades: Meet Newell Rubbermaid, on a Road to Riches

Stock Downgrades: The Wheels Keep Coming Off Coach
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No positions in stocks mentioned.
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