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New Stock Coverage: Pfizer Profits From Purple Pill Poppers


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

If Pfizer (NYSE:PFE) was left brokenhearted by the spectacular failure of its bid for AstraZeneca (NYSE:AZN), it can find comfort in heartburn. The key Dow (INDEXDJX:.DJI) component just launched a nonprescription version of its popular purple pill Nexium to treat the ailment. Shares are showing strength this morning on the back of both a broker boost and upbeat commentary by Barron's.

Wall Street was off to the races, as a day that began with the Indianapolis 500 winner ringing the opening bell ended with the S&P 500 (INDEXSP:.INX) setting yet another historic high. Indeed, autos really ruled the roost, with Google (NASDAQ:GOOG) gaining 2.40% as it unveiled a prototype of its driverless car and Tesla Motors (NASDAQ:TSLA) advancing 2.05% even as its junk in the trunk was painfully exposed. Among stocks on the move, recently suffering Sony (NYSE:SNE) rebounded to the tune of 3.29% as it agreed to sell PlayStation consoles in China. (The eternal enemies may be on the brink of war, but it's nice to know that they can agree on the really important stuff, like video games.) Speculation of a $6.4 billion buyout sent Hillshire Brands (NYSE:HSH) up an NYSE-best 22.07% to delight its CEO Sean Connolly. Sean Connery, Mr. 007 himself, continues to bask in this year's unlikely bond rally. The Scotsman likes to drink a wee dram (shaken, not stirred, of course) and was involved in a few inebriated bar brawls as a youngster in Edinburgh -- hopefully not at British alehouse owner Punch Taverns (LON:PUB), which tumbled 24.21% even before the Fed takes away the punch bowl. Career Education (NASDAQ:CECO), which cratered 1.48%, was another poor performer in an otherwise excellent session in equities. Still, as one 99-year-old can freshly attest, sometimes it pays to be patient in higher education.
It's quite a quiet day in economic data, but expect quarterly earnings announcements out of Michael Kors (NYSE:KORS), Palo Alto Networks (NYSE:PANW), Popeyes Louisiana Kitchen (NASDAQ:PLKI), and Toll Brothers (NYSE:TOL).
Now let's turn to this morning's new stock coverage, a list that includes alternative energy firms in addition to Pfizer.
Amtech Systems (NASDAQ:ASYS): Shares are begun with a Buy opinion and $14 price objective at Stifel, which says it has a market-leading 35% share of the global solar diffusion furnace market.
Coca-Cola Enterprises (NYSE:CCE): ISI Group has a new Neutral.
Delek US Holdings (NYSE:DK): Bank of America Merrill Lynch launches Buy-rated research with a $34 target price.
First Solar (NASDAQ:FSLR): FSLR is a fresh Buy ($75 objective) at Stifel, which cites the increasing penetration of solar panels worldwide.
FuelCell Energy (NASDAQ:FCEL): Stifel starts the stock with a Buy and $2.90 target amid an encouraging reduction in the company's manufacturing costs.
Nimble Storage (NYSE:NMBL): NMBL is a new Neutral at Macquarie.
Omnicom (NYSE:OMC): Morgan Stanley starts the stock at Equal Weight with a price objective of $75.
Pfizer: Today's headline analyst initiation is assigned an upbeat Overweight at JPMorgan, whose price target is $35.
Ruckus Wireless (NYSE:RKUS): RKUS is resumed with an Outperform at BMO Capital, sending it up ahead of the open.
Waste Management (NYSE:WM): Imperial Capital assigns an Outperform and $50 objective on a stock it says deserves a higher valuation.

Also see:

Stock Upgrades: Twitter's Bluebird Is the Bee's Knees

Stock Downgrades: Lowe's Left High and Dry
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No positions in stocks mentioned.
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