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New Stock Coverage: Apple Still on Money Tree


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

MINYANVILLE ORIGINAL Stocks slumped for a fourth straight session amid an iffy start to earnings season and indications from Italy's Mario Monti that the country may need to dip into additional capital from the continent's stability fund. (Just don't expect the dipping to occur at Rome's Trevi Fountain, which currently can't even rub its fabled three coins together.)

The US dollar promptly surged to a two-year high against the euro but one German had scant reason to celebrate. Alcoa (AA) CEO Klaus Kleinfeld saw stock in his firm fall 4.11% following results. Regis Corp. (RGS), owner of Hair Club for Men, lost 5.27% and Helen of Troy (HELE), which has been making hair brushes since the hippy heyday of 1968, plunged 13.49%.

Today at 2:00 p.m. Eastern we get the minutes to the Federal Reserve's most recent policy meeting. In earnings action, Adtran Inc (ADTN), DragonWave (DRWI), Material Sciences (MASC), and Northern Technologies (NTIC) are all due to release results. (AMZN): Shares are begun at a Market Perform by BMO Capital, whose price target is $260.

Chinese Internet Stocks: (BIDU) is begun with an Overweight recommendation and $154 price objective at HSBC Securities, which cites its increasing presence in lower tier cities. SINA Corp (SINA) is also Overweight, with a $62 target price, as it is the leading online advertising portal in China. The broker has a new Neutral, and $22 target, on (YOKU).

Comerica (CMA): CMA is covered with a Neutral at Guggenheim.

Elli Mae (ELLI): Shares are begun with a Buy and $24 target at Needham.

Imperva (IMPV): The stock is a new Neutral with Wedbush.

Large Cap Tech: Apple (AAPL) is initiated with a Buy at UBS, whose target is $740. EMC Corp. (EMC) is also a Buy but International Business Machines (IBM), a Dow (^DJI), member, is no better than Neutral with a $205 target.

Life Time Fitness (LTM): Shares are a Hold at Stifel Nicolaus.

Rex Energy (REXX): REXX is resumed at Outperform with Wells Fargo.

ViroPharma (VPHM): Shares are initiated with a Market Perform at Wells.

(See also: Stock Upgrades: Wendy's About to Beef Up and Stock Downgrades: Agony for Alcoa.)
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