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New Stock Coverage: Fast Money Chases JPMorgan


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

MINYANVILLE ORIGINAL On the day Janine Turner, who starred with Sylvester Stallone in Cliffhanger, hit her half century, markets moved up after again brushing off fiscal cliff concerns. Hollywood actors, however, were unable to participate in the profits after box office giant Lions Gate Entertainment (LGF) fell 3.01% on a lukewarm launch at Goldman Sachs (GS). The bank had previously proven itself to be no movie buff but, given that its expensive new home sits incongruously close to an Irish Hunger Memorial, such negativity on The Hunger Games studio was tough to swallow.

Firearms firm Smith & Wesson (SWHC) surged 3.04% and is up another 2.55% before today's opening bell and Urban Outfitters (URBN), whose idea of a Christmas tree decoration is a warm gun, gained 1.71%. The National Christmas Tree was lit, continuing a tradition begun in 1923. That year German inflation ran rampant, with one dollar equal to one trillion Marks. Things are a bit - not much, mind you - better in Berlin these days, and as an added bonus the city's flagship air carrier will fly your Christmas tree for free.

Harry Winston Diamond (HWD) is out with quarterly earnings this morning, while the day's economic data includes December's University of Michigan Consumer Sentiment Index at 9:55 a.m. Eastern and October consumer credit at 3:00 p.m.

Alexion Pharmaceuticals (ALXN): Shares are a new Neutral at Citigroup, whose target price is $104.

Banks: Dual Dow (^DJI) components Bank of America (NYSE:BAC) - Neutral - and JPMorgan Chase (NYSE:JPM) - Buy - are both covered at SunTrust, which issues respective price objectives of $11 and $48. Citigroup (NYSE:C) is started with a Buy ($43 target price), while new Neutrals are assigned on Goldman Sachs (NYSE:GS) ($123), US Bancorp (NYSE:USB) ($35), and Wells Fargo (NYSE:WFC) ($35.)

Bed Bath & Beyond (BBBY): Shares are initiated with a Buy at Standpoint Research.

Capital One Financial (COF): Janney Montgomery Scott starts Buy rated coverage on COF.

Danaher (DHR): The name is a new Outperform at BMO Capital, whose objective is $63.

Fiserv (FISV): FISV is a fresh Buy at Jefferies.

Hennes & Mauritz (HNNMY): The Swedish clothing company is covered at Telsey Advisory Group. Though the firm does not issue official ratings, it seems positive on the stock, saying its proven concept resonates in multiple geographies.

Hertz Global (HTZ): Shares are reinstated with an Overweight by Barclays.

Marathon Petroleum (MPC): The name is a new Neutral at JPMorgan.

Microchip (MCHP): Saying it sees a likely cyclical rebound in semiconductors, Needham begins Buy rated research on the stock, setting a $37 target.

Oracle (ORCL): Shares are a new Neutral with Wedbush, whose target is $36.

Ryland Group (RYL): The real estate stock is resumed with a Buy at Topeka.

3D Systems (DDD): Shares are begun with a Buy at BB&T Capital, which sets a $60 target.

(See also: Stock Downgrades: Silver Screens Are a Lead Balloon for Regal Entertainment and Stock Upgrades: McDonald's Critics Take a Ribbing.)
No positions in stocks mentioned.
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