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New Stock Coverage: Cisco Systems Plots Route to Riches


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

MINYANVILLE ORIGINAL Showing a healthy concern for the nocturnal habits of our fiscal officials, a senator yesterday asked Ben Bernanke "Do you sleep well at night?" To which the Fed head said "I have a lot to do during the day and I need to be well-rested." (Presumably not on a Tempur Pedic (TPX), which took its two-day tumble to 49.76%.) He certainly proved an antidote to any market insomnia, with the S&P 500 Index (^GSPC) immediately following up the excitement of its single best day of the year by slipping all of 0.14 of a point, or 0.01%, in a somnambulant session as cards were kept close to the chest regarding any additional quantitative easing. Shares gave up early gains after a report that Greeks may, just this once, forgo their famously hard-working tendencies and again go on strike with elections looming. Goodyear Tire (GT) rose 3.21%, its stock no longer a steal even if its principal product is being pilfered at rates not seen since the 1980s; remember to lock those lug nuts. Today in economics, April wholesale inventories are expected to increase at 10:00 a.m. Eastern. In earnings action, Duckwall-Alco Stores (DUCK), Ferrellgas Partners (FGP), KMG Chemicals (KMGB), Piedmont Natural Gas (PNY), and Rand Logistics (RLOG) are all due to release results.

Cisco Systems (CSCO): The Dow (^DJI) member, a maker of Internet routers and switches, is initiated with a Buy at Citigroup, which establishes a price objective of $19.

Cardinal Financial (CFNL): Shares are initiated with a Buy at Janney Montgomery Scott.

Corcept Therapeutics (CORT): The stock is covered with an Outperform at Credit Suisse.

Cypress Semiconductor (CY): Shares are a new Sell at Cantor Fitzgerald, whose price target is $11. Concerns include likely substantial long-term competitive and architectural issues.

Dick's Sporting Goods (DKS): Shares are initiated with an Equal Weight at Morgan Stanley.

EMCOR Group (EME): EME is initiated with an In-line at Imperial Capital.

Fox Chase Bancorp (FXCB): The stock is a new Market Perform at Keefe Bruyette.

Heska Corp (HSKA): Shares are begun with a Buy and $20 target at C.K. Cooper, which says it is an under-followed and profitable company with significant potential for continued revenue and earnings growth.

IMAX Corp (IMAX): The company is initiated with a Neutral at Susquehanna.

Ligand Pharmaceuticals (LGND): Cantor Fitzgerald launches at a Buy. Its target is $19.

Medallion Financial (TAXI): Stifel Nicolaus has a Hold on TAXI.

Nationstar Mortgage (NSM): NSM is a new Overweight at Evercore.

Neonode (NEON): Shares are surging some 6% before the bell on a Buy initiation at Cantor Fitzgerald, whose objective is $9.

SandRidge Energy (SD): The stock is initiated with an Outperform at RBC Capital.

Techne (TECH): TECH is initiated with a Market Perform at William Blair.

Tech stocks: Riverbed Technology (RVBD), Juniper Networks (JNPR), and F5 Networks (FFIV) are all begun with Buys at Citi.

(See also: Stock Upgrades: Jack in the Box Set to Jump and Stock Downgrades: Aqua America Under Water.)
No positions in stocks mentioned.
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