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New Stock Coverage: Marathon Winner Skechers a Stock for the Long Run


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

Skechers USA (NYSE:SKX), which outfitted the Boston Marathon winner in April, has made investors much more than a quick buck. Its stock is up a remarkable 96.64% in the past year and is showing further strength ahead of the open after scoring a broker boost. Skechers recently reported the second-highest quarterly revenue in its entire history.
Call it the One Direction market. After zigzagging for an astonishing 10 straight weeks, the S&P 500 (INDEXSP:.INX) finally picked a lane to post successive drops. I use the boy band analogy with the heaviest heart, mindful that the release of No Strings Attached by 'N Sync in March 2000 marked the exact month of the market top -- Bye Bye Bye to the '90s mantra of "buy buy buy." Certainly, no one was partying like it was 1999 last week. A top tech banker who first joined Goldman Sachs (NYSE:GS) in 1999 is ominously jumping ship, and an utterly unloved World Wrestling Entertainment (NASDAQ:WWE) slid 35% for its single worst week since going public that same year. Bonds fared far better, with US Treasuries surging after low-rate comments from a British central banker who looks like Clooney. Meanwhile, his equally Adonis-like Indian equivalent put the sex appeal back in Bombay's BSE SENSEX (INDEXBOM:SENSEX), which jumped 4.9% after elections in the world's largest democracy.
There aren't any top-tier economic reports due today, but Campbell Soup (NYSE:CPB), Hertz (NYSE:HTZ), Urban Outfitters (NASDAQ:URBN), and Valspar (NYSE:VAL) are all due to release quarterly earnings.
Now let's turn to this morning's new stock coverage, a list that includes a travel titan in addition to Skechers USA.

China Mobile Games (NASDAQ:CMGE): Nomura has a new Buy on the company. Its target price is $32.
Deckers Outdoor (NYSE:DECK): Shares are begun with a Buy at Citigroup.
Hi-Crush Partners (NYSE:HCLP): Bank of America Merrill Lynch launches Buy-rated research with a price objective of $53 amid increased liquidity and compelling growth prospects.
Sabre (NASDAQ:SABR): The Travelocity owner is a Market Perform at FBR Capital, whose target price is $17.
Skechers USA: Shares are begun with a Buy at Citigroup.
Walt Disney (NYSE:DIS): The Dow (INDEXDJX:.DJI) member is a new Buy at Hudson Square Research, whose price target is $96.

Also see:

Stock Upgrades: AT&T Dials Back 1984 in Monopoly Merger

Stock Downgrades: A-Z of Agony for AstraZeneca
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No positions in stocks mentioned.
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