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New Stock Coverage: Champagne Still on Ice at LVMH Moet Hennessy


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

Cars, not stock markets, were the only thing crashing yesterday as investors continued adding to their Daylight Savings. Dow Industrials (^DJI) advanced for a seventh straight session, something that last occurred on March 15, 2012. (The Ides of March, which coincidentally arrives again this week amid much intrigue in Italy. What would Caesar do?)

Citigroup (C) jumped 1.97% on an upgrade, even if its advertising implies that the giant bank is not motivated by anything as grubby as money. Its ex-CEO Charles Edwin Mitchell was infamous for soothsaying, in October 1929, that "I know of nothing fundamentally wrong with the stock market." Let's hope Berenberg Bank - already making waves for slashing Apple Inc (AAPL) to Sell last week - is slightly more on the money with its prediction that the eurozone crisis is yesterday's news, "unless Italy throws a very funny surprise." (Always possible, with clowns and comedians currently vying for political power in Rome.)

Elsewhere Mattel (MAT) hit a new high, so that middle age man who shares an apartment with 2,000 of its Barbie Dolls now isn't strange at all. No, that description better fits the dude whose tattoos just got him a free year of Netflix (NFLX). Right on cue, the top S&P 500 (^GSPC) stock of 2013 promptly tumbled 2.30% on another record day in equities.

It's another quite quiet session for economic data, but corporate earnings announcements are due to include Bon-Ton Stores (BONT), China Mobile (CHL), Costco (COST), Dole Food (DOLE), Stage Stores (SSI), and Uranium Energy (UEC).

Best Buy (BBY): The recently-surging stock is up again ahead of the open after being begun with a Buy rating and $25 target at Goldman Sachs.

Fifth & Pacific (FNP): The firm formerly known as Liz Claiborne is a fresh Buy at Brean Capital, whose price target is $21.

Hotel-Related Real Estate: Janney Capital has a new Neutral on LaSalle Hotel Properties (LHO) and begins Summit Hotel Properties (INN) with a Buy. Its respective price objectives are $27 and $11.75.

Luxury Goods: Société Générale has Holds on both Britain's upscale Burberry Group (PINK:BURBY), home of the iconic checkered raincoat, and LVMH Moët Hennessy-Louis Vuitton (PINK:LVMUY), whose brands include Bulgari, Fendi, and the bubbly trio of Dom Perignon, Moët & Chandon, and Veuve Clicquot.

New Source Energy (NSLP): Shares are assigned an Outperform recommendation and $23 price objective at Oppenheimer, which cites a 10% current yield and acquisition-propelled growth.

Pandora Media (P): Pacific Crest picks up the resurgent Internet radio stock at Outperform, assigning a price objective of $17.

TJX Companies (TJX): Barclays begins Overweight rated research on TJX.

Vanguard Natural Resources (VNR): The equity is established with an Overweight at JPMorgan.

Vocera (VCRA): Lazard launches the communication equipment company at a Neutral.

Xoom Corporation (XOOM): The online money transfer outfit is begun bullishly by both Robert W. Baird (Outperform and $29 target) and Needham (Buy and $27.) The firm continues to expand at a quicker pace than its offline peers.

(See also: Stock Upgrades: Vitamin Shoppe Can Afford to Buy a Vowel and Stock Downgrades: Red Ink at Red Hat.)
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