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New Stock Coverage: Playing Monday Morning Quarterback With Sportsman's Warehouse


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

In April, Sportsman's Warehouse (NASDAQ:SPWH) priced its initial public offering somewhat below expectations, but the stock, up 4.77% on Friday, appears to have found its footing. Today the sports retailer founded in 1986 attracts a slew of mostly upbeat analyst initiations. Even Robert W. Baird, while assigning only a Neutral on the name amid valuation concerns, acknowledges the solid long-term growth prospects that Sportsman's Warehouse offers investors.
How Mr. Market misses his Girls. My theory, first expressed in March, that the disappearance of Lena Dunham from our TV screens may be terrible for technology, is thus far panning out as predicted. Nasdaq (INDEXNASDAQ:.IXIC) endured its worst week in a month, with tech tumbling 1.15% to post easily the poorest performance of all 10 Dow Jones (INDEXDJX:.DJI) industry groups. Silicon Valley citizens to slump last week ran the gamut from an 8% implosion in Yahoo (NASDAQ:YHOO) to a record 18% tumble in Twitter (NYSE:TWTR). Apple Inc. (NASDAQ:AAPL), which fared a bit better, is ill-advisedly calling upon a Dr. Dre a day by assiduously courting Beats. This, as the heart of its key competitor missed a beat (we wish him a rapid recovery). Pfizer's (NYSE:PFE) bid for Britain's AstraZeneca (NYSE:AZN) remains up in the air, but English understatement, not hitherto associated with American capitalism, is suddenly all the rage. Marissa Mayer told TechCrunch that her paying Henrique de Castro $58 million for 15 months' work was "Regrettable." And Bank of America's (NYSE:BAC) Brian Moynihan called a $4 billion accounting error "disappointing." I'll say.
It's quite a quiet day in economic data, but Elizabeth Arden (NASDAQ:RDEN), McKesson (NYSE:MCK), and Rackspace (NYSE:RAX) are all due to release quarterly results.
Now let's turn to this morning's new stock coverage, a list that includes a medical appliance outfit in addition to Sportsman's Warehouse.

Aircastle (NYSE:AYR): Cowen covers the company at Outperform.
Cardiovascular Systems (NASDAQ:CSII): Bank of America Merrill Lynch launches the medical appliance firm at a Buy.
Dick's Sporting Goods (NYSE:DKS): Shares are assumed with an Outperform at Credit Suisse, whose price objective is $65.
Endologix (NASDAQ:ELGX): The stock is a new Neutral at JPMorgan.
Moelis (NYSE:MC): JMP Securities starts the stock at Outperform.
Paycom Software (NYSE:PAYC): PAYC is picked up with an Outperform at Pacific Crest, whose target price is $18.
Sportsman's Warehouse: As mentioned, Robert W. Baird (Neutral and $10 target) is relatively unimpressed on today's headline equity, but Goldman Sachs (Buy with a $13 objective), Piper Jaffray (Overweight), and William Blair (Outperform) are all more upbeat.
TriVascular Technologies (NASDAQ:TRIV): Shares are begun with a Buy at Stifel.
Weibo (NASDAQ:WB): Piper Jaffray initiates the equity at Overweight.
Also see:

Stock Upgrades: Pandora Dials Back Radio's Glory Days

Stock Downgrades:
Omnicom and Publicis Fall to Earth Faster Than Don Draper
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No positions in stocks mentioned.
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