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New Stock Coverage: SeaWorld Set to Make a Splash


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

Three years to the day after the Dow (^DJI) rounded off its worst May since 1940, blue chips jumped by triple digits to hit yet another historic high. (Back then, Korea concerns and European angst dominated discussions, but now thankfully neither the former nor the latter is an issue.)

Wedding ring king Tiffany (TIF) surged 3.95% to a fresh 52-week peak. Indeed romance was everywhere in the air, even if Shakespeare surely didn't have Larry in mind when he wrote the heartfelt lines: "Shall I compare thee to a Summer's day? Thou art more lovely and more temperate: Rough winds do shake the darling buds of May."

TripAdvisor (TRIP) rose 4.23% to top S&P 500 (^GSPC), a day after the travel sector was boosted by Beijing buying Club Méditerranée (OTCMKTS:CLMDY) for 700 million bucks. (Because the Chinese make such exemplary tourists.) All the tea in China was powerless to prevent JC Penney (JCP), whose kettles look like Hitler, plunging 1.37% despite getting a price objective increase at JPMorgan (JPM), which knows all about tempests in teapots.

No top-tier economic data due today, but Brown Shoe (BWS), Chico's FAS (CHS), Copart (CPRT), Daktronics (DAKT), Michael Kors (KORS), Movado Group (MOV), Sberbank Russia (OTCMKTS:AKSJF), Tata Motors (TTM), The Fresh Market (TFM), and Tootsie Roll (TR) are all expected to release results.

Alkermes (ALKS): Leerink launches the stock at Outperform.

Chicago Bridge & Iron Company (CBI): The company is covered with a Neutral at Robert W. Baird, whose price objective is $73. Robust energy-related end markets is somewhat mitigated by recent stock strength, the broker believes.

FirstMerit (FMER): FMER is a fresh Overweight at JPMorgan.

Intelsat (I): RBC Capital sets an Outperform on the satellite stock.

Manitex International (MNTX): Benchmark begins a Buy rating and $14 target price on an outfit it notes is often strongest in its second and third quarters.

Nuverra Environmental Solutions (NES): NES is a new Buy at Needham, which assigns a $4.50 price objective on an outfit it says has a nicely leveraged operating model amid real promise in its gas assets.

SeaWorld Entertainment (NYSE:SEAS): The recent initial public offering is a new Neutral at Citigroup, Goldman Sachs, JPMorgan, Lazard Capital, and Nomura. Bank of America-Merrill Lynch and KeyBanc are both more bullish, beginning Buy-rated research, and Macquarie has an equally upbeat Outperform.

Snyder's-Lance (LNCE): The snack food stock is a new Neutral at Suntrust Robinson Humphrey.

Spectrum Pharmaceuticals (SPPI): Burrill starts an Outperform recommendation and $12 price target on SPPI, a stock it says can garner future revenue from Folotyn, Fusilev, and Zevalin.

(See also: Stock Upgrades: Athenahealth Is in Fine Fettle and Stock Downgrades: Javelin Mortgage Is a Falling Knife.)
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