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New Stock Coverage: W.R. Grace Is Amazing


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

Talk about life imitating art. Fast & Furious 6 (CMCSA) topped the weekend box office, ahead of the 12th iteration of the Star Trek and Iron Man 3. Wall Street appears similarly addicted to sequels. The S&P 500 (^GSPC) fell 1.07% amid eerily and wearily familiar themes of a spring swoon and renewed angst in Athens. (And let's not forget yet another Hangover, for whom two prior versions in quick succession evidently did not suffice.

The six pack abs of Abercrombie & Fitch (ANF), which imploded 8.00% in tandem with the film's Friday debut, saw no resultant benefit. Far better to get drunk on Booz Allen (BAH), which surged 12.89% last week.) Before Midnight, currently also on the silver screen, takes place in Greece but based on a Europe-worst 14.20% slide in the main Athens market, we have now seen this scary movie once too often.

On this side of the Atlantic, Zale Corporation (ZLC) - a.k.a. "America's diamond store since 1924″ - surged 23.1% ahead of Saturday's start of wedding season. This as a Dimon proved forever at JPMorgan (JPM), where breaking up is indeed hard to do.

Today in economics, analysts expect an uptick in the Conference Board's May consumer sentiment survey at 10:00 a.m. Eastern. On the earnings front, GuideWire Software (GWRE), Lukoil (OTCMKTS: LUKOY), Tiffany (TIF), United Natural Foods (UNFI), and Wet Seal (WTSL) are all due to report results.

Air Methods (AIRM): AIRM is assigned a Buy recommendation and $44 price objective with WallachBeth, which says the recent sell-off was excessive in light of an upcoming EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) boost from Healthcare Reform.

Ellington Residential Mortgage REIT (EARN): Citigroup has a new Neutral on the Real Estate Investment Trust.

GW Pharmaceuticals (GWPA): Lazard launches Buy rated coverage on the company.

Harvest Capital Credit (HCAP): William Blair has an Outperform on HCAP.

Insys Therapeutics (INSY): Shares are assigned an Outperform at JMP Securities.

Intelsat (I): The satellite stock is started with an upbeat Overweight at JPMorgan and Buys at both Bank of America-Merrill Lynch and Nomura. Credit Suisse (Neutral) and Deutsche Bank (Hold) are less bullish, however.

Jabil Circuit (JBL): Standpoint Research resumes Buy rated research on the tech firm. Its target price is $28.

SunCoke Energy (SXC): Barclays begins the steel stock at Equal Weight.

Taminco (TAM): Shares are set an Outperform at Credit Suisse.

W.R. Grace (NYSE:GRA): Goldman Sachs starts the specialty chemicals stock with a Conviction Buy amid optimism over its robust cash flow and an improving construction sector.

(See also: Stock Upgrades: Can Merck Lead the Dow to Another Terrific Tuesday? and Stock Downgrades: Analyst Is Not a Belieber in Align Technology.)
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