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New Stock Coverage: General Electric Gets Power Jolt

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

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MINYANVILLE ORIGINAL On 10-11-12, making money wasn't as easy as 1-2-3. The Dow (^DJI) dropped for a fourth straight day as initial optimism over a large decline in unemployment claims eventually evaporated amid much confusion. (The Labor Department's figures can't be considered final until millionaires, prisoners, and the dead are factored out, a job it will get around to eventually.)

Joe Biden, the ultimate loose Canon (CAJ), professed himself pleased with a 3.57% surge in that stock but his debate opponent Paul Ryan proved he had even more of a Midas touch in the market. The Badger State native saw Wisconsin's own Oshkosh (OSK) increase 11.36% to a fresh peak while Life Time Fitness (LTM) attracted bullish analyst attention and Nautilus (NLS) jumped 4.10%. Each of which will be music to the ears of the fittest candidate ever to run for office, whose rigorous workout routine is much discussed in today's issue of Time.

Today in economics, analysts expect the University of Michigan's preliminary October consumer sentiment survey to show a slight slippage at 9:55 a.m. Eastern. In earnings action, DiamondRock Hospitality (DRH), JPMorgan (JPM), KMG Chemicals (KMG), Webster Financial (WBS), and Wells Fargo (WFC) are all due to report results.

Aegerion Pharmaceuticals (AEDR): Shares are initiated with a Buy at Capstone Investments, whose price target is $21. The company's key asset is under FDA review to treat adult Homozygous Familial Hypercholesterolemia.

Arthur J. Gallagher & Co. (AJG): The insurance outfit is a new Neutral at Goldman Sachs, which has a $39 price objective.

Capital One (COF): COF is covered with an Outperform at Robert W. Baird, which has high hopes for additional capital deployment.

Cubic Corp (CUB): Shares are resumed with an Outperform at Imperial Capital.

Embraer (ERJ): ERJ is initiated with an Outperform at Imperial, whose target is $32. They see substantial commercial regional jet orders in the coming months.

Industrials: Deutsche Bank begins Buys on both General Electric (NYSE:GE), a key Dow (^DJI) component, and Honeywell International (HON), assigning respective price objectives of $26 and $72. It has a Hold and $53 target price on Emerson Electric (EMR).

Internet Stocks: Groupon (GRPN) and Yelp Inc (YELP) are new Neutrals at Macquarie, which establishes an Outperform and $53 price objective on OpenTable (OPEN).

Japanese Car Companies: UBS begins Buys on both Honda (HM) and Toyota (TM).

Kraft Foods (KRFT): The stock is a new Neutral at Janney Montgomery Scott.

Progessive Waste (BIN): KeyBanc Capital has a Hold on BIN, which says the risk/reward appears balanced.

RLJ Entertainment (RLJE): Lazard Capital launches Neutral rated research coverage on RLJE.

Xylem (XYL): Shares are begun with a Buy at Brean Murray.

Zimmer Holdings (ZMH): The medical device maker is a new Outperform at JMP Securities, whose target is $76.

(See also: Stock Upgrades: LinkedIn Set for Career Year? and Stock Downgrades: Coal Companies Cool Off.)
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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