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New Stock Coverage: Don't Look at Luxottica Through Rose-Tinted Glasses


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

Stocks rose, rebounding from their worst week of the year as equities paid an appropriate homage to a dearly departed icon of capitalism. Mrs. Thatcher, born in an apartment with no hot water and an outdoor toilet, died at the Ritz. It is only the free market system that allows for such a trajectory, so one wonders why on Earth the first couple of pop would wish to journey in the opposite direction. Beyoncé and Jay-Z's trip to Cuba was evidently greenlighted by our own Treasury Department. (A government agency that clearly likes getting its hands dirty, for it is concurrently involved in the equally messy business of trying to retrieve five $100 bills from the droppings of a dog.)

"I like Mr. Gorbachev. We can do business together." said the far-sighted Iron Lady, and she happily just about lived to see Russian energy outfit Lukoil (PINK:LUKOY) advance on upbeat analyst comments. JinkoSolar (JKS) surged 20.48% to top the entire NYSE on a day many minds went back 23 years to The Sun. Its iconic anti-Europe headline in November 1990, the month Maggie resigned, resonates more than ever in light of the continent's current economic crisis.

Media mogul Rupert Murdoch, owner of the tabloid, saw his News Corp (NWS) gain 2.27% yesterday to hit the highest level in its history. History's judgment will likely also be kind to a remarkable woman, whose views on Brussels bureaucrats, and much else have been proven right.

Today in 10:00 a.m. Eastern economics, we get reports on both February job openings and wholesale inventories. On the earnings front, A. Schulman (SHLM) and Zep, Inc. (ZEP) have each already released results this morning.

Everyware Global (ROIQ): Shares are initiated at Telsey Advisory Group. While the investment outfit does not offer official recommendations, its overall outlook appears bullish on a firm it says stands to benefit from both expanding international markets and increasing household formation. The target price is $12.

First Republic Bank (FRC): Goldman Sachs has a fresh Conviction Buy on its fellow financial firm.

Hotel Stocks: Macquarie establishes Outperforms on Marriott International (MAR) and Starwood Hotels (HOT) and has a new Neutral on Hyatt (H).

Intuitive Surgical (ISRG): ISRG is established at a Buy with WallachBeth, whose price objective is $610. Catalysts include growth in Japan arising from the launch of its flagship da Vinci robot.

Level 3 Communications (LVLT): Deutsche Bank begins Buy rated research on LVLT.

Lions Gate Entertainment (LGF): The studio behind The Hunger Games and Twilight is begun with a Buy at Argus, whose price objective is $31. The 2012 acquisition of Summit Entertainment is seen as a positive.

Luxottica Group (NYSE:LUX): The upscale eye-wear outfit, whose brands of sunglasses include Oakley and Ray-Ban, is launched at no better than a Neutral at JPMorgan.

Monsanto (MON): The world's largest seed company is started with a Hold at Stifel.

Sarepta Therapeutics (SRPT): Canaccord Genuity begins the biotech with a Buy.

Silver Spring Networks (SSNI): Shares are set a Hold at Canaccord.

Stratasys (SSYS): Canaccord Genuity picks up the computer peripherals play at a Buy.

Telecom Services: Deutsche Bank has Holds on CenturyLink (CTL), Frontier Communications (FTR), and Windstream (WIN).

(See also: Stock Upgrades: Dot Hill Sitting on a Cash Mountain and Stock Downgrades: St. Jude Medical No Miracle Worker.)
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