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New Stock Coverage: Connecticut Water Service Lacking Liquid Assets?


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

MINYANVILLE ORIGINAL On Boxing Day, stocks continued to wrestle with the fiscal cliff. Shares subsequently dropped for a third straight session although Bank of America (BAC) - recently boosted by a well known wrestler's wife - was exempt from the overall malaise, advancing 2.58% to best all blue chips and finish at a fresh 52-week peak.

Another Whitney, not Meredith but Tilson, said he's short Herbalife (HLF), which tumbled 25.14% last week. Yet the stock appears to be living the life of life of Reilly (if not B. Riley, which discontinued coverage on Monday) and actually ended up 5.18%. Stifel Nicolaus, St. Nick's younger brother, said good things about Best Buy (BBY) this Christmas yet it still lost 0.86%, finishing at a new low. Its CEO Hubert Joly can be excused feeling sad, but Brazil's Gol Linhas Aéreas Inteligentes (GOL) was literally all Smiles, adding on another 9.09% after the prior session's 7.37% surge.

First Security Group (FSGI), based in the hometown of the Chattanooga choo choo, jumped 27.89% and China enjoyed being number one with a bullet train. Today in economics, November new home sales and December consumer confidence are each out at 10:00 a.m. Eastern.

Burger King (BKW): Shares in the fast food firm are a new Neutral at Buckingam, which issues an $18 price objective.

Connecticut Water Service (NASDAQ:CTWS): Shares are assigned a relatively lukewarm Market Perform with Wells Fargo, which sees fair value in the range of $32 to $33.

Covanta (CVA): Capstone covers the company at a Buy and assigns it a price objective of $23. Catalysts include a large market share and predictable future cash flows.

(See also: Stock Downgrades: Marvell Left With Massive Chip on Its Shoulder and Stock Upgrades: KAR Auction Catches a Bid.)
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