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New Stock Coverage: Time to Feast on GrubHub?


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

In the old days, people clad in sandwich boards warned us "The End of the World Is Nigh." Might market historians one day say that the bull market ended when GrubHub (NYSE:GRUB) employees paced the NYSE floor wrapped up in a burrito? Certainly, its remarkable first-day surge earlier this month might eventually come to be seen as an IPO market top. Shares skyrocketed from its $26 initial offering price on April 4. This one isn't for the faint of heart, however, as we saw with a 9% nosedive on April 10. Today the largest online restaurant takeout service in America scores its first analyst initiations.
During his time in office, Pope John Paul II presided over a market rally to shame any money manager. On his first full day as a saint, the pontiff evidently inspired equities again. (Coincidentally or not, a company called Church & Dwight (NYSE:CHD) gained 1.24% to hit an historic high on what was another strong session for stocks overall.) By contrast, Steven Spielberg endured a day from hell. His DreamWorks Animation SKG (NASDAQ:DWA) dropped 1.38% on a rating reduction, and the executive producer of Used Cars was equally powerless to prevent Autobytel (NASDAQ:ABTL) -- seller of secondhand clunkers -- sliding 6.40% on similarly cautious analyst commentary. Adding insult to injury for the Hollywood icon, the legendarily bad video game based on his Extra-Terrestrial is in the news again. Microsoft (NASDAQ:MSFT) financed that big dig and saw its stock add on 2.41%. This as a suddenly surging Apple Inc. (NASDAQ:AAPL), whose own Steve Jobs time capsule was also recently unearthed, advanced another 3.87%.
It's another full day for first-quarter earnings announcements, with Archer Daniels Midland (NYSE:AMD), Bristol-Myers Squibb (NYSE:BMY), eBay Inc. (NASDAQ:EBAY), and Twitter (NYSE:TWTR) all releasing results.
Now let's turn to this morning's new stock coverage, a group that includes a couple of cruise companies in addition to GrubHub.

AmRIET (NYSE:AMRE): The property manager is picked up with a Buy and $21 target price at MLV & Co., which cites its impressive portfolio demographics and plump dividend yield.

Audiocodes (NASDAQ:AUDC): William Blair begins Outperform-rated coverage.
Coca-Cola (NYSE:KO): The key Dow (INDEXDJX:.DJI) component is a new Buy at Nomura, which is impressed with the company's corporate strategy.
Cruise Companies: Berenberg begins Buys on both Norwegian Cruise Line (NASDAQ:NCLH) and Royal Caribbean Cruises (NYSE:RCL). Its respective price objectives are $40 and $60.
Five9, Inc. (NASDAQ:FIVN): Shares are initiated with an Overweight rating, and $10 price target, by Barclays.
GrubHub: Morgan Stanley (Equal Weight) is not overly impressed, but BMO Capital (Outperform; $40 target) and Citigroup (Buy) are each more upbeat.
Natural Grocers by Vitamin Cottage (NYSE:NGVC): Shares are assigned a Perform at Oppenheimer, whose price objective is $38.
OvaScience (NASDAQ:OVAS): Oppenheimer starts the stock at Outperform and assigns it a $11 objective. The risk-reward ratio is compelling, in the bank's estimation.

Also see:

Stock Upgrades: Intuitive Surgical Is Out of Intensive Care

Stock Downgrades: Kiev Chickens Come Home to Roost for Tyson Foods
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No positions in stocks mentioned.
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