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New Stock Coverage: Iron Mountain Scaling the Peaks


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

MINYANVILLE ORIGINAL Bringing basketball players to ring the opening bell of Nasdaq (^IXIC) pointed the way to net profits for that exchange, which settled at session highs. The Dow (^DJI), however, is now down for four straight days and stands at its lowest level since last December after disappointing April factory orders here at home twinned with ongoing unease in Europe. The UK had its credit level cut due to rising debt levels although the country, supposedly on an austerity diet, was too busy enjoying the expensive pageantry of a thousand-boat flotilla for the Queen to notice. (Hopefully England's armada will fare better than the Spanish one did all those centuries ago.) Today in economics, analysts expect May's Institute for Supply Management Index services index to slip slightly at 10:00 a.m. Eastern. On the earnings front, American Woodmark (AMWD), Bob Evans Farms (BOBE), Christopher & Banks (CBK), Mattress Firm Holding (MFRM), and Oxford Industries (OXM), are all due to report results.

Iron Mountain (IRM): The stock is initiated with an Overweight at Piper Jaffray.

Ignite Restaurant (IRG): Shares are initiated with an Outperform at Robert W. Baird, whose target price is $22. They consider the risk/reward appealing at current levels, as premium valuation metrics seem justified by an above-average growth profile.

Portland General Electric (POR): POR is picked up with a Buy at Deutsche Bank.

SanDisk (SNDK): Shares are started at an Outperform at Pacific Crest.

United Rentals (URI): Piper picks the stock up at Overweight.

Uranium Energy (UEC): The small cap is begun with a Buy at Dahlman Rose, whose price objective is $3.25. While the disaster in Japan has delayed the nuclear renaissance, they continue to believe that over the medium term uranium prices will trend higher.

Vail Resorts (MTN): Shares are initiated with a Buy at KeyBanc Capital, whose target is $60.

(See also: Stock Downgrades: Advanced Semiconductor in Retreat and Stock Upgrades: Buckeye Is a Bull's Eye.)
No positions in stocks mentioned.
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