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New Stock Coverage: Time to Go Long Tallgrass Energy?


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

Mr. Market finally split with Ms. Ruby Tuesday after 20 straight dates, only to ultimately find love in the arms of His Girl Friday. A just-right May jobs report on the final trading session enabled shares to end in the black on the week. Not all equities shared in the exuberance, however, with language learning outfit Rosetta Stone (RST) tumbling 13.72%.

Something was certainly lost in translation when Frenchman François Hollande, speaking in Asia, had his remarks interpreted into English thus: "You must understand that the crisis in the eurozone is over." This will be news not just to his fellow countrymen, whose unemployment rate rose to a record high, but also to Athens, where National Bank of Greece (NBG) nosedived 19.24% last week to finish Friday at a record low.

No top-tier economic data due today, the start of what is quite a quiet week for such releases. On the earnings front, Annie's (BNNY), Lululemon Athletica (LULU), Navistar International (NAV), and Pep Boys – Manny, Moe & Jack (PBY) are all expected to reveal results.

Ambit Biosciences (AMBI): Shares are assigned a Buy at Citigroup.

Credit Acceptance Corp. (CAAC): Bank of America-Merrill Lynch begins Neutral-rated coverage on the company.

CST Brands (CST): Credit Suisse covers the company at a Neutral.

CVR Refining (CVRR): Goldman Sachs starts the stock at a Neutral.

Javelin Mortgage (JMI): JMI is initiated with a Buy and $21 price objective at Ladenburg Thalmann, which notes the company has enjoyed an annualized total return in excess of its peers in recent years.

Questar (STR): Shares are set a Neutral at UBS.

SunEdison (SUNE): Morgan Stanley starts shares in the semiconductor firm at an Equal-Weight.

Tallgrass Energy Partners (NYSE:TEP): The stock is picked up with a Neutral at Citi although Bank of America-Merrill Lynch (Buy), Credit Suisse (Outperform), and Stifel (Buy and $23 price target) are all more upbeat.

Vitamin Shoppe (VSI): Longbow launches Buy-rated research on the equity.

(See also: Stock Upgrades: AT&T Gets Good Reception and Stock Downgrades: Morgan Stanley May Have a Bad Case of the Mondays.)
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