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New Stock Coverage: Post-Apocalyptic San Francisco No Problem for Charles Schwab


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

The top movie in America this weekend took place in a post-apocalyptic San Francisco, but Charles Schwab (NYSE:SCHW), based in the City by the Bay, seems to be surviving just fine. Today the stock, already up a tidy 26.22% in the past 12 months, is assigned an upbeat analyst initiation by a broker who calls the company "one of the premier asset gathering franchises within all of financial services."
A politician known as the "Prince of Pork" sadly left us on Saturday, but the PIIGS are assuredly still here. The Dow (INDEXDJX:.DJI) endured its worst week in a month amid renewed angst in Portugal. Potbelly (NASDAQ:PBPB) tumbled 22.6% even as a Mexican man named Slim sent América Móvil (NYSE:AMX) surging 10.52% after announcing a big breakup. (This as one of his compatriots married a crocodile.) Brazil, which began the World Cup by scoring an own goal in São Paulo, exited the competition in ignominy, but investors were still well advised to own the city's Gol Linhas Aéreos Inteligentes (NYSE:GOL) after its 10.83% advance. Meanwhile the country's conqueror Germany continued its infatuation with men named Mario. A month after Mr. Draghi sent the DAX (INDEXDB:DAX) above 10,000 for the first time ever, Mr. Götze's lone goal unleashed maniac celebrations in Rio. Thus did the Fatherland capture the most coveted 18-carat trophy in sports, its first international soccer silverware since 1996. With gold gaining for a sixth straight week, it was worth its weight in, well, you know. Elsewhere in commodities oil has now dropped in nine of 10 sessions, delighting drivers if not ISIS.
It's a quiet day in economic data but the first full week of Q2 earnings announcements is upon us, with Citigroup (NYSE:C) having released results earlier this morning.
Now let's turn to this morning's new stock coverage, a list that includes another discount broker in addition to Charles Schwab.

Ardelyx (NASDAQ:ARDX): JMP Securities starts the stock at Outperform. Its target price is $26.
Charles Schwab: Today's headline stock is begun with a Buy and $35 price objective at Jefferies.
Foresight Energy (NYSE:FELP): The limited partnership gets launched with a Buy and $23 target at Citigroup.
Intercept Pharmaceuticals (NASDAQ:ICPT): Deutsche Bank begins the equity at a Buy, sending shares up ahead of the open.
Markit (NASDAQ:MRKT): Shares are a Buy at Deutsche Bank, whose price target is $29.
Parnell Pharmaceuticals (NASDAQ:PARN): JMP Securities has an Outperform and $12 objective.
TD Ameritrade (NYSE:AMTD): The stock is assigned a Hold at Jefferies.
Yelp Inc (NYSE:YELP): Evercore establishes the online outfit at Underweight with a $65 price objective.
ZS Pharma (NASDAQ:ZSPH): Shares are begun with an Outperform by William Blair.
Also see:

Stock Upgrades: Analyst Polishes Up Apple

Stock Downgrades: eBay's Attic Is Empty
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No positions in stocks mentioned.
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