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New Stock Coverage: CBS Outdoor Americas Bills the Bored


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

Twiddling your thumbs while stuck on the highway is manna from heaven for CBS Outdoor Americas Inc. (NYSE:CBSO), the billboard unit being spun off by its corporate owner CBS Corp. (NYSE:CBS). Traffic jams create a captive (and highly lucrative) audience for its offerings. Shares had a strong initial public offering at the end of March, and CBS Corp. aims to dispose of its remaining 81% interest on a tax-free basis later in 2014, at which point, CBS Outdoor will convert to a real estate investment trust (REIT). The company is seen by some as an attractive takeover candidate, with Lamar Advertising (NASDAQ:LAMR) -- out with earnings of its own this morning -- most often mentioned as a potential bidder.
"Goodbye, Ruby Tuesday." So sang The Rolling Stones in the '60s, and they spoke for all of us as the S&P 500 (INDEXSP:.INX) snapped a streak of eight straight winning ones. At least the lyrics also included this piece of moneymaking advice: "Catch your dreams before they slip away." (Although it may have been "cash"; Mr. Richards wasn't exactly thinking clearly back then.) Indeed, DreamWorks Animation (NASDAQ:DWA) actually ended up 0.54% on a broker boost amid much red ink elsewhere. "Mother's Little Helper" was another Stones song of the era, and in this, the week we honor all things maternal, we will soon see if Yahoo's (NASDAQ:YHOO) Marissa Mayer can say, "Look Ma, no hands," or if her recent stock-price success owes everything to Alibaba. The iconic English rockers once released a double compilation album called Forty Licks. Hard to believe, but eternal intern Monica Lewinsky -- Mr. Jagger's fellow London School of Economics alumnus -- is now fully four decades old. She's in the news again, along with an equity analyst also indelibly associated with the go-go late 1990s. That dot-com boom went bust in a big way, and yesterday, dual Internet plays Yelp Inc. (NYSE:YELP) and Pandora (NYSE:P) plunged a respective 13.39% and 8.94%. History -- there really is no escaping it.
Today in economics, March consumer credit is expected to contract from February's pace at 3:00 p.m. EDT. On the corporate front, earnings season is in its final innings, but an A-Z of quarterly announcements includes Allergan (NYSE:AGN), Keurig Green Mountain (NASDAQ:GMCR), Sotheby's (NYSE:BID), and Zillow (NASDAQ:Z).
Now let's turn to this morning's new stock coverage, which includes a real estate name in addition to CBS Outdoor Americas.

Bluerock Residential Growth (NYSEMKT:BRG): Shares are begun with a Buy at Wunderlich, whose target price is $16.50.
CBS Outdoor Americas Inc.: Citigroup (Buy), JPMorgan (Overweight), and Morgan Stanley (also Overweight, with a $35 price objective) are all upbeat on today's headline analyst initiation.
Farmland Partners (NYSEMKT:FPI): Janney has a fresh Buy, and $15 target, on the stock.
Ulta Salon (NASDAQ:ULTA): Cowen covers the cosmetics company with a Market Perform rating and $98 target.

Also see:

Stock Upgrades: From Football to Futbol, Electronic Arts Makes Money Hand Over Fist

Stock Downgrades: Whole Foods Has Absolutely No One Arguing on Its Behalf

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No positions in stocks mentioned.
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