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New Stock Coverage: Strike While MobileIron Is Hot


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

Application software outfit MobileIron (NASDAQ:MOBL) is indeed red-hot ahead of today's opening bell. Shares are surging 6.82% as we speak -- this on the back of several bullish "buy" initiations. Brokerage firms are lining up to hail the company's technical expertise and market-leading Enterprise Mobility Management (EMM) potential.
A hedge fund haven saw its pyrotechnics postponed until July 5 and an embarrassed American Apparel (NYSEMKT:APP) had a July 4 to forget. Yet Wall Street's fireworks arrived early on July 3, with both the Dow (INDEXDJX:.DJI) and S&P 500 (INDEXSP:.INX) reaching records at the end of a holiday-shortened week. "Made in America" was indeed the way to go, with Peoria's own Caterpillar (NYSE:CAT) the best blue chip by a mile on the bourse's journey from 16,000 to 17,000 with its 35.3% advance. Stocks started July in equally ebullient mood, recording their strongest inaugural session of a year's second half since 2011. (Best to forget what happened next.) The nation's unemployment rate fell to 6.1%, its lowest level since September of 2008. That was the month Lehman Brothers infamously went bankrupt; how we could have used Tim Howard to save it. Jamie Dimon did rescue Bear Stearns from a similar fate that year by buying it for less than it cost to procure Howard's fellow Manchester United (NYSE:MANU) alumnus David Beckham. All of Wall Street wishes the JPMorgan (NYSE:JPM) CEO well in his courageous fight against cancerTwitter's (NYSE:TWTR) bluebird advanced after appointing NFL alum Anthony Noto -- a man much more partial to football than fútbol -- as its Chief Financial Officer. Alas, Buffalo Wild Wings (NASDAQ:BWLD) was for the birds. Its World Cup boost seriously short-lived, shares ended the week off 1.1%.
There aren't any top-tier economic data due today, and it is equally quiet on the earnings front. Tomorrow, however, Alcoa (NYSE:AA) unofficially ushers in second-quarter reporting season when it releases results after the close.
Now let's turn to this morning's new stock coverage, a list that includes a liquefied natural gas outfit in addition to today's headline equity MobileIron.

Alexco Resources (NYSEMKT: AXU): The small-cap stock is begun with a Buy rating and $1.70 price objective at H.C. Wainwright, which cites its impressive silver production.
Bazaarvoice (NASDAQ:BV): Shares are resumed with a Buy at B. Riley & Co., whose target price is $9.75.
Chefs' Warehouse (NASDAQ:CHEF): BMO Capital covers CHEF at Perform with a $21 price target.
Golar LNG (NASDAQ:GLNG): Bank of America Merrill Lynch launches Buy-rated coverage.
MobileIron: Barclays (Overweight and $15 objective), Goldman Sachs (Buy), Morgan Stanley (Overweight and $13), Nomura (Buy), and Stifel (Buy) are all equally upbeat on today's headline analyst initiation.
Nordic American Offshore (NYSE:NAO): Morgan Stanley has a new Overweight on NAO.
Rocket Fuel (NASDAQ:FUEL): The stock is a fresh Market Perform with Wells Fargo.
Visteon (NYSE:VC): JPMorgan assigns an Overweight on the equity.

Also see:
Stock Upgrades: King Digital Entertainment Can Candy Crush the Competition

Stock Downgrades: Bed Bath & Beyond Sleeps In on Monday Morning
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No positions in stocks mentioned.
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