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New Stock Coverage: Starbucks Easily Worth Eighty Bucks


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

They say never wear white after Labor Day, but yesterday a benign beige book was just fine for equities. Dow Industrials (INDEXDJX:.DJI) enjoyed their single best session in five weeks as Ford (NYSE:F) and General Motors (NYSE:GM) - up a respective 3.49% and 5.01% - each breathed new life into moribund Motown. This as home state hero the University of Michigan gleefully pocketed $200 million even while simultaneously saying that being a cheapskate is the only ticket to true love. They know a thing or two about thrift in Scotland, where a couple just tied the knot for $1.56. Still, on the birthday of Beyoncé, someone was splashing cash to "put a ring on it." Diamond retailer Zale Corp (NYSE:ZLC), up more than 30% last week, rose another 6.25%. Penney (NYSE:JCP) pinchers fear not, however, for that stock survived an iffy analyst initiation to jump 6.13%.

Today in economics, consensus calls for a falloff in factory orders for July and August's Institute for Supply Management non-manufacturing index, each out at 10:00 a.m. Eastern. On the quarterly earnings front, Conn's (NASDAQ:CONN), Finisar (NASDAQ:FNSR), Quiksilver (NYSE:ZQK), Smith & Wesson (NASDAQ:SWHC), and VeriFone (NYSE:PAY) are all expected to release results.

Advanced Energy Industries (NASDAQ:AEIS): Raymond James resumes the diversified electronics outfit at an Outperform.

AGCO Corp (NYSE:AGCO): Morgan Stanley starts the stock at Overweight.

Allscripts-Misys Healthcare (NASDAQ:MDRX): The medical appliance firm is a fresh Hold at KeyBanc Capital Markets.

Caterpillar (NYSE:CAT): The company, a key Dow (INDEXDJX:.DJI) component, is covered at Equal-Weight by Morgan Stanley.

Deere (NYSE:DE): The tractor titan gets assigned an Underweight at Morgan Stanley.

Greenway Medical (NYSE:GWAY): KeyBanc Capital starts the stock at a Buy.

Jones Energy (NYSE:JONE): The independent oil and gas outfit gets begun with Buys at both Jefferies and Stifel ($20 target price.)

Joy Global (NYSE:JOY): Morgan Stanley starts the maker of mining equipment at Equal-Weight.

Nokia (NYSE:NOK): There's no keeping the Finnish telecom firm out of the news this week. Today it is set a fresh Equal-Weight at Morgan Stanley.

Spectrum Brands Holdings (NYSE:SPB): Credit Suisse has a new Neutral on the consumer goods name, whose offerings include George Foreman and Remington.

Starbucks Corporation (NASDAQ:SBUX): The coffee king, whose shares closed at $72.14 on Wednesday, is established at Outperform with Wedbush. Its price objective is $80.

Trimble Navigation (NASDAQ:TRMB): Robert W. Baird resumes Outperform-rated research and assigns a price objective of $36. The stock stands to benefit from burgeoning worldwide demand for mobile automation, in the broker's estimation.

United Rentals (NYSE:URI): Shares are picked up at Equal-Weight by Morgan Stanley.

(See also: Stock Upgrades: Groupon Is Your Deal of the Day and Stock Downgrades: Tears at Comedy Central Owner Viacom.)
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