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New Stock Coverage: Sports Store Cabela's Set to Score as World Cup Starts?


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

Sports retailer Cabela's (NYSE:CAB), which supplies equipment for fishing, camping, and a variety of other pastimes, has endured a tough 12 months. Shares have missed out on the market's record run, having nosedived 9.34% in the past year. The Nebraska-based firm was especially hard hit by a recent first-quarter earnings miss from rival Dick's Sporting Goods (NYSE:DKS).
With all eyes on the World Cup, the World Bank gave investors a kick in the teeth. The Dow Average (INDEXDJX:.DJI) and S&P 500 Index (INDEXSP:.INX) each endured their worst day in three weeks after the organization and its hip-hop head lowered global growth assumptions. Moving from a rapper to Bubble Wrap, it figured that Sealed Air(NYSE:SEE) -- producer of the iconic product -- would let the air out of the market's recent bubble when it brought trading to a close. Oil jumped to a 12-week peak, and also unnerving equities was the loss of one of the financial industry's staunchest allies. House majority leader Eric Cantor was relieved of his seat in a stunning defeat that none of the self-styled "experts," in either Washington or on Wall Street, ever saw coming. Where is Paul the Octopus, and his peerless predictive powers, when we most need him? Sleeping with the fishes, sadly. Likely killed off by the Greeks, for whom flame-grilled Octopus is an exquisite delicacy. Poor Paul was German, after all, and in its economic crisis of 2010 Athens had no lost love for Frankfurt's pay masters. The Germans always get the last laugh, however, hence National Bank of Greece (NYSE:NBG) nosediving 3.09% amid a pair of analyst initiations. And with São Paulo today set to be a sea of yellow for the Seleção, yesterday Medallion Financial (NASDAQ:TAXI) was taken away in a big yellow taxi, tumbling 2.01%. This, with Europe up in arms over Uber. You talkin' to me?
Today in economics, April business inventories are forecast to come in essentially unchanged from the prior month's pace at 10:00 a.m. EDT. On the earnings front, Finisar (NASDAQ:FNSR), Lands' End (NASDAQ:LE), and Lululemon Athletica (NASDAQ:LULU) all release results.
Now let's turn to this morning's new stock coverage, a list that includes energy and retail names in addition to Cabela's.
Allete (NYSE:ALE): Shares are a new Neutral at JPMorgan.
Biomarin Pharmaceutial (NASDAQ:BMRN): UBS starts the stock at a Buy.
Cabela's: Today's headline analyst initiation gets assigned a Neutral at Goldman Sachs, whose price objective is $69.
HollySys (NASDAQ:HOLI): Goldman has a Buy on HOLI.
Navios Maritime Partners (NYSE:NMM): The limited partnership is launched with a Buy at Jefferies.
RSP Permian (NYSE:RSPP): Mizuho has a Buy rating and $33 target on a stock it says is a pure play on the booming Permian Basin.
Specialty Retailers: CRT Capital assigns fresh Fair Values on American Eagle Outfitters (NYSE:AEO) and The Children's Place (NASDAQ:PLCE).
Sunesis Pharmaceuticals (NASDAQ:SNSS): The stock is picked up with a Buy at UBS, whose objective is $14.

Also see:

Stock Downgrades: Blame It on Rio -- Brazil's Vale Gets No World Cup Boost

Stock Upgrades: Soccer Sponsor Hewlett-Packard Kicks Off World Cup in Style
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No positions in stocks mentioned.
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