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New Stock Coverage: Check In to Hyatt Hotels


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

On the day a disgraced cyclist finally admitted to doing drugs, Dell's (DELL) long-forgotten stoner dude learned that in the stock market, as in life, success is indeed cyclical. The computer company hit an all-time high 13 years ago, at about the exact time the Texan started issuing his series of half-baked denials and, coincidentally, the same year Steven made his television debut as a pitchman for the PC maker. The intervening era has not been kind to the fallen tech titan but yesterday it surged some 12.96% to top the entire S&P 500 Index (^GSPC).

Coming in second after an upgrade was industry peer Hewlett-Packard (HPQ), though that still doesn't justify Meg Whitman raking in $15.4 million in 2012, when its stock slumped over 40% to lead all Dow's (^DJI) losers. Lance is apparently considering returning some of his $31 millions in ill-gotten gains given him by the Postal Service, which can't exactly afford such largesse in its current state. Alternatively, after his explosive admission Mr. Armstrong could perhaps be persuaded to invest in parcel delivery outfit TNT Express (PINK:TNTEY), which just slid 39.32%.

Today's fourth quarter earnings announcements are due to include Forest Labs (FRX), Interactive Brokers (IBKR), and Lennar Corp. (LEN).

Armstrong World Industries (AWI): Shares are assigned an Underweight at JPMorgan.

Bank of Hawaii Barclays begins Equal Weight research on BOH.

Bon-Ton Stores (BONT): Shares are begun with a Buy at Buckingham, whose target price is $16.

E*TRADE (ETFC): The discount broker is started with a Buy at Sterne Agee.

Global Payment (GPN): GPN gets begun with a Buy at UBS.

Glu Mobile (GLUU): Roth Capital resumes Buy rated coverage on the stock.

Hotel Stocks: BMO Capital Markets resumes Market Performs on Host Hotels (NYSE:HST), LaSalle Hotel (NYSE:LHO), Marriott (NYSE:MAR), Starwood Hotels (NYSE:HOT), Summit Hotel (NYSE:INN), and Sunstone Hotel (NYSE:SHO). It has an Outperform on Hyatt Hotels (NYSE:H).

Nektar Therapeutics (NKTR): Lazard launches Buy rated research on the company.

Palo Alto Networks (PANW): Jefferies has a Hold on the recent IPO.

Polaris Industries (PII): The snowmobile maker is a new Neutral at Suntrust Robinson Humphrey.

Pros Holdings (PRO): PRO is picked up with an Outperform at JMP Securities.

Real Estate Investment Trusts: Robert W. Baird has new Neutrals on Kilroy Realty (KRC) ($50 price objective), ProLogis (PLD) ($38), and SL Green Realty (SLG) ($84.) It assigns Outperforms on Boston Properties (BXP) ($117), CoreSite Realty (COR) ($35), Digital Realty Trust (DLR) ($75), Duke Realty (DRE) ($16), First Industrial Realty (FR) ($17), and Piedmont Office Realty Trust (PDM) ($21.)

Seagate Technology (STX): STX is a fresh Sector Perform at Pacific Crest.

WellPoint (WLP): The managed care company is covered at Underweight by Barclays.

(See also: Stock Downgrades: Lululemon Looks Like a Downward Dog and Stock Upgrades: Symantec's Future Is Secure.)
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