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New Stock Coverage: Limited Upside for Limited Brands


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

MINYANVILLE ORIGINAL From Tinseltown to Wall Street, the raging bull was reined in. Coordinated central bank easing action across the globe failed to stop the S&P 500 (^GSPC) from snapping a three-day winning streak. European Central Bank President Draghi was indeed a drag on equities as he lowered the continent's growth outlook.

Here at home volume remained anemic as investors opted to stay on the sidelines ahead of this morning's payroll employment report, which showed the June jobless rate remained unchanged at 8.2%.

Some stocks did post strong showings, notably James River Coal (JRCC), which added on another 15.61% to its recent surge, and plain old Kohl's Corp. (KSS), the retailer rising 6.26% after reporting same store sales. Fourth of July fireworks sponsor Macy's (M) held on to a warm afterglow, advancing 2.73%.

Imperva (IMPV): Shares are initiated with an Outperform at William Blair.

Limited Brands (LTD): The Victoria's Secret owner is launched with a Market Perform at Wells Fargo, which sees fair value in the $44-$47 range.

Teradyne (TER): The stock is a Sector Perform at Pacific Crest.

Watsco (WSO): Goldman Sachs starts the name at Neutral.

(See also: Stock Upgrades: Sally Beauty Looks Like a Million Bucks and Stock Downgrades: Deckers Outdoor Can't Get Up Off the Floor.)
No positions in stocks mentioned.
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