Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

New Stock Coverage: Not Buying Honeywell Would Be a Big Boo Boo


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

A Fed punch bowl, ostensibly full of "free" cash but in reality costing us $85 billion per month? Or a Chinese Ding bowl bought for three bucks and sold for $2.2 million? Take your pick which is better value for money; either way they are laughing all the way to the bank in Shanghai.

The S&P 500 (^GSPC) duly snapped a three session skid after FOMC officials continued their easy money policy. Since the organization fiddled and feasted on Twinkies while Rome burned, it was only appropriate that Flowers Foods (FLO), which recently raided Hostess' pantry, promptly surged 4.63% to an all-time high.

Also ending at an historic best was prison operator Geo Group (GEO), this on the day disgraced MF Global (PINK: FGLQ) - which infamously has "convictions" of its own - announced a deal with JPMorgan (JPM). Elsewhere at the House of Morgan, a Morgan Stanley (MS) employee once memorably said he "planned to return a phone call from a land line because he didn't want to use a BlackBerry (BBRY)." Yesterday the tech stock rose for a third straight session, surging some 6.45% on an upgrade at…Morgan Stanley.

We get a trifecta of economic data today at 10:00 a.m. Eastern, namely February existing home sales and leading indicators, plus the Philadelphia Fed index for March. On the corporate front, ConAgra Foods (CAG), Foxconn International (PINK:FXCNY), Hennes & Mauritz (PINK:HNNMY), Hermès International (PINK:HESAY), IHS Inc. (IHS), KB Home (KBH), Lululemon Athletica (LULU), Micron Technology (MU), Nike Inc. (NKE), Perry Ellis International (PERY), Ross Stores (ROST), and Scholastic (SCHL) are all due to reveal results.

3M Company (MMM): The key Dow (^DJI) component is a new Neutral at Goldman Sachs.

Application Software Stocks: Check Point Software (CHKP) and Automated Teller Machine powerhouse Diebold (DBD) are each picked up at In-line by Imperial Capital, which sets respective price objectives of $15 and $33. NICE Systems (NICE) is a new Outperform with a $43 target price.

Cempra (CEMP): SunTrust Robinson Humphrey starts coverage at a Buy.

Cleveland Biolabs (CBLI): Cantor Fitzgerald covers the small cap company with a Buy rating and $4 price objective. A key catalyst could come in April with a Food and Drug Administration announcement.

First Financial Corporation (THFF): Shares are a fresh Market Perform at Keefe Bruyette.

GenCorp (GY): GY gets rated an Outperform at Oppenheimer, whose target is $20 on a stock it says generates a healthy 24% Free Cash Flow yield.

Healthcare Realty (HR): Goldman Sachs resumes Sell rated research on HR.

Home Security Stocks: Imperial Capital assigns In-Lines on ADT Corporation (ADT) and Tyco International (TYC), the latter with a price objective of $32. It is more upbeat on Ascent Capital Group (ASCMA), covering it at Outperform with a $75 target price.

Honeywell International (NYSE:HON): The industrial giant gets a Buy assessment and $88 objective at Goldman.

Online Travel: Something for everyone at Evercore, which assigns an Underweight on TripAdvisor (TRIP), an Equal Weight on Expedia (EXPE), and an Overweight on Priceline (PCLN).

Reliance Steel (RS): Wells Fargo rolls out Outperform rated research on the hot rolled steel stock.

Spreadtrum Communications (SPRD): Northland Capital has a new Outperform and $25 target on the equity.

Stanley Black & Decker (SWK): The tool titan is a fresh In-line at Imperial, whose objective is $82.

Zoetis (ZTS): Citigroup starts the animal health outfit at a Buy.

(See also: Stock Upgrades: Alibaba Stake Makes Yahoo a Steal and Stock Downgrades: Oracle Has a Profit Problem.)
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos