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New Stock Coverage: Will Today's Trading Be Murder on Orient-Express Hotels Ltd.?


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

Despite the admirable efforts of Piano Man Steinway (LVB), an impressive 12.45% gainer, and Maria Bartiromo, who channeled her inner Julie Andrews, the music came to a screeching halt on Wall Street. With the Middle East again aflame, Dow Industrials (^DJI) dropped 2.23% for their worst week of 2013. Unless you were short pyramids, or purported pyramid schemes, you saw precious few of these.

Apple Inc. (AAPL) was among equities to buck a brutal tape, advancing 11% on account of Uncle Carl, although a septuagenarian politely suggesting $150 billion worth of stock buybacks does not strike many as the most inventive use of cash for an allegedly innovative tech titan. In an otherwise awful aviation sector, pride of São Paulo Gol Linhas Aéreas Inteligentes (GOL) gained 8.26%, and the samba boys' dominance of fútbol even extended to winning the Homeless World Cup. Those lucky enough to own a home should thus count their blessings, especially if they concurrently bought stock in residential construction company PulteGroup (PHM), which rose 3.9% amid the downdraft. Alas, mere mortals like us will have to use the tradesman's entrance.

There isn't any top-tier economic data due today, but earnings announcements are expected out of Bob Evans Farms (BOBE), Cellcom Israel (CEL), and Urban Outfitters (URBN).

Agios Pharmaceuticals (AGIO): Goldman Sachs starts the stock at a Buy.

América Móvil (AMX): The telecom company controlled by world's richest man Carlos Slim is covered with an Equal Weight by Barclays.

Bill Barrett (BBG): Cannacord Genuity begins the oil and gas outfit at a Buy.

Cellular Dynamics (ICEL): The equity finds fans at both JPMorgan (Overweight) and Leerink Swann (Outperform.)

Conatus Pharmaceuticals (CNAT): Stifel covers the stock with a Buy rating and $16 target price as the company's proposed emricasan product shows potential promise to treat liver-mediated disorders.

Lumber Liquidators (LL): Shares are launched with a Buy at Jefferies, which calls it a profitable growth story.

News Corp. (NWSA): Rupert Murdoch's recently restructured media empire is initiated with Buy at UBS.

New Source Energy (NSLP): NSLP is a new Outperform with a $23 price objective at Oppenheimer, which says its current 11.2% yield is sustainable amid expected annual distribution growth of 10%.

Onconova Therapeutics (ONTX): Citigroup has a new Neutral on the biotechnology name.

Orient-Express Hotels Ltd. (OEH): The accommodation outfit is assigned an uninspiring Neutral with a $12.50 price target at Goldman Sachs. "We believe investor focus over the coming quarters will be on the operational improvements that the [management] team can effect," its analyst wrote in a note.

Phillips 66 Partners (PSXP): RBC Capital Markets picks the stock up at Outperform but Barclays, at Equal-Weight, is less bullish.

Ross Stores (ROST): ROST is resumed at Overweight by Barclays.

Triangle Petroleum (TPLM): Wells Fargo sets an Outperform on TPLM.

(See also: Stock Upgrades: Intel Corporation Tries to Rise From Silicon Valley to Mountain Top and Stock Downgrades: No Indian Summer at Apache Corporation.)
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