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New Stock Coverage: Six Flags Is a Fine Place to Park Your Money


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

She loves me, she loves me not? Mr. Market could be excused for not knowing, what with the Dow (^DJI) and S&P 500 (^GSPC) having now alternated between gains and losses for nine straight sessions.

At least owner IAC/InterActiveCorp rode bullish research to end up 2.70%, and on Casanova's birthday no less. (Alas, its Beijing-based competitor (DATE) fell 4.45%, but in a country where the gender imbalance is such that more than 24 million men can't get any action - never exactly a recipe for societal harmony - matchmaking in China was always destined to be a money-losing business.)

A ratings increase sent Scottish student transportation stock Firstgroup Plc (PINK:FGROY) surging 4.34%. It is based in the city of Aberdeen, where they really take no risks with their road signs. Elsewhere, it was all about Johnson and Johnson and Johnson & Johnson (JNJ), which hit the highest level in its entire history. Tylenol? Apple Inc. (AAPL) would be better advised to take two tablets and call us in the morning, after slowing iPad sales among other issues saw it incur a rare ratings reduction.

Today in economics, analysts expect a slight slippage in the Institute for Supply Management's services index at 10:00 a.m. Eastern. On the corporate front, ConAgra Foods (CAG) and Monsanto (MON) have each announced earnings this morning.

Amusement Parks: Goldman Sachs assigns a Neutral on Cedar Fair (NYSE:FUN), but it much more bullish on Six Flags Entertainment (NYSE:SIX), placing it on the Conviction Buy List. SIX shares ended yesterday trading today atop the highest level in company history, and are edging up further ahead of the open as a result of the broker's ebullience.

Carbo Ceramics (CRR): CRR is covered with a Neutral at Goldman.

Eaton Corporation (ETN): Morgan Stanley assigns an Equal-Weight on ETB.

Exar Corp. (EXAR): The semiconductor stock is a new Buy at Needham, whose target price is $13. A fresh management team have cut costs quickly and impressively, the broker notes.

Regal-Beloit (RBC): Credit Suisse resumes Neutral rated research on RBC.

Scorpio Tankers (STNG): Shares are a new Neutral at Credit Suisse.

Sucampo Pharmaceuticals (SCMP): Citing high hopes for the company's principal product Amitiza, Cantor Fitzgerald begins Buy rated research with a $9 target price.

Supervalu (SVU): Morgan Stanley starts the supermarket stock at Underweight.

Tumi Holdings (TUMI): Shares are assigned an Outperform at Credit Suisse.

Qualcomm (QCOM): The tech stock, upgraded yesterday, is this morning begun with a bullish Outperform assessment at Northland Capital, whose objective is $80.

(See also: Stock Upgrades: Chipotle Mexican Grill Stock Set to Head North and Stock Downgrades: Dog Days Ahead at Caterpillar.)
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