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New Stock Coverage: Pros Say Buy Conns (NASDAQ:CONN)


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

MINYANVILLE ORIGINAL Now, if only Europe was as adept at erasing its budget shortfall as it is at overcoming daunting deficits on the golf course. Stocks fell for a second straight week amid a trail of tears from Athens to Madrid. While an infamous case of continental infighting was being immortalized in bronze, France and Italy are actually increasingly on the same page, with austerity protests in Paris and a strike in Italy occurring within days of each other. Hopefully Europe's winning Ryder Cup team are long shares of Callaway Golf (ELY), upgraded this morning. Or indeed Accenture (ACN), whose 7.3% surge topped the entire S&P 500 (^GSPC), much to the disgust of Mr. Woods.

While the bell tolls in Iberia, in the words of Hemingway's famous novel of the Spanish Civil War, luxury homebuilder Toll Brothers (TOL) imploded 8.8% in a truly devilish week for real estate. Yet someone forgot to tell Home Depot (HD), which just hit its highest level since 2000. That was so long ago AOL Inc. (AOL) was hot, and its stock - up 187.12% in a year to a fresh peak - is once again on fire.

This morning in economics, analysts expect improvements in both August construction spending and September's Institute for Supply Management manufacturing index, each out at 10:00 a.m. Eastern. Today's earnings announcements include Cal-Maine Foods (CALM), Synergetics (SURG), Robbins & Myers (RBN), and Team Inc. (TISI).

Abercrombie & Fitch (ANF): Shares are initiated with an Underperform at Credit Suisse, whose price target is $32.

Avanir Pharmaceuticals (AVNR): The stock is an Outperform at Cowen.

Carnival (CCL) Barclays begins Equal Weight coverage on the cruise company.

Citigroup (C): The bank, downgraded elsewhere this morning, is begun with a Buy at Guggenheim. The price objective is $45.

Conns (NASDAQ:CONN) The consumer electronics retailer is begun with a Buy at Canaccord Genuity, whose target is $36. A new management team is seen creating several catalysts.

Healthcare Services Group (HCSG): Shares are initiated with a Buy at UBS.

Internet Related Stocks: Yelp Inc. (YELP) and Zillow (Z) are each initiated with Equal Weights at Barclays.

Kraft Foods Group (KRFTV): The stock is a Neutral at JPMorgan, whose target is $47.

Mondelez (MDLZV): The Kraft spin-off is an Overweight at JPMorgan, whose target is $31.

Myriad Genetics (MYGN): Shares are begun with a Buy at WallachBeth, which feels guidance looks conservative and achievable.

Tech Stocks: Ciena (CIEN) and JDS Uniphase (JDSU) are new Neutrals at Lazard Capital.

Tibco Software (TIBX): Shares are a new Neutral at Nomura.

ZAGG Inc (ZAGG): ZAGG is initiated with an Overweight at JPMorgan.

(See also: Stock Upgrades: Callaway Golf (NYSE:ELY) is in the Green and Stock Downgrades: Here's the Beef With Wendy's (NASDAQ:WEN).)
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