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New Stock Coverage: Can Global Cash Access Put Money in Your Pocket?


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

Global Cash Access Holdings (NYSE:GCA), today's headline analyst initiation, is the preeminent player in providing cash access solutions for the gaming industry. Shares surged 4.86% on Monday, but the analyst advises greater caution this morning amid pricing pressure and a relatively anemic industry outlook.
A day late, but definitely not a dollar short. Twenty-four hours after Mother's Day, stocks honored storks as Vlasic pickles parent Pinnacle Foods (NYSE:PF) surged 13.20% after being bought. The merger Monday sent Dow Industrials (INDEXDJX:.DJI), now up for four straight sessions, to a fresh best in what's quickly becoming a serial story. Kellogg (NYSE:K) gained 1.80% to an historic high, making money talk so soon after the voice of its Tony the Tiger was sadly silenced. Casey Kasem has an incomparably melodious voice, and while the radio icon is unfortunately ailing, the newest expression of his medium remains in fine fettle after Pandora Media (NYSE:P) rode a broker boost to surge 6.01%.
Today in economics, March business inventories are expected to expand from February's pace at 10:00 a.m. EDT. On the earnings front, expect announcements out of Abercrombie & Fitch (NYSE:ANF), Fossil (NASDAQ:FOSL), and Take Two Interactive (NASDAQ:TTWO).
Now let's turn to this morning's new stock coverage, a list that includes an industrial outfit in addition to Global Cash Access.

City Office REIT (NYSE:CIO): Janney covers the company at a Buy and assigns it a price objective of $15.
Global Cash Access Holdings: Stifel has a Hold rating and $8.50 target price on today's headline analyst initiation.
HD Supply Holdings (NASDAQ:HDS): Shares are assigned an Equal-Weight at Morgan Stanley, whose target is $28.
Illinois Tool Works (NYSE:ITW): The diversified machinery name is a new Neutral at JPMorgan. Its objective is $86.
Opus Bank (NASDAQ:OPB): Keefe Bruyette covers the company at Outperform ($36 price target.)
Royal Mail (OTCMKTS:ROYMF): The British postal powerhouse, a relatively recent initial public offering, gets picked up with a Buy at Berenberg.
Wesco International (NYSE:WCC): WCC is established at Equal-Weight by Morgan Stanley, whose target is $92.
W.W. Grainger (NYSE:GWW): Morgan Stanley starts the stock at Overweight. Its price objective is $296.
Also see:

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Stock Downgrades:
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No positions in stocks mentioned.
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