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New Stock Coverage: Cable Guy Says Buy Comcast


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

MINYANVILLE ORIGINAL It wasn't quite a Black Monday, but the Dow (^DJI) has now started with a drop in 13 of the past 15 weeks. This as Chicago teachers went on strike for the first time since that fateful month of October 1987; ominous echoes are indeed everywhere.

Stocks snapped a two-session winning streak, backing off from multi-year highs as selling accelerated in the final fifteen minutes. China's seas of red are literal as well as symbolic, with its benchmark index having just touched the lowest level since February 2009. The country kick-started much of yesterday's investor angst by reporting sluggish growth in industrial production.

Watson Pharmaceuticals (WPI) hit the highest level in its history and Emma Watson was officially announced as the most dangerous online celebrity. Though not nearly as dangerous as the hit the Burberry (BURBY) girl's portfolio is taking this morning, with that stock nose-diving 19% in London as we speak. There are bouncing checks all around then at the iconic checkered clothing company, yet alas no sign of a Czech bouncing in New York as Ivan Lendl remained stone faced while his protégé won the US Open.

Today's earnings announcements are expected to include Globecomm Systems (GCOM), R.G. Barry Corp. (DFZ), and United Natural Foods (UNFI).

Ball Corp. (BLL): BLL is begun with a Buy at Citigroup, whose price objective is $51.

Clean Energy Fuels (CLNE): Jefferies has a Hold and $15 target price on CLNE.

Comcast (CMCSA): The stock is initiated with a Buy at Janney Capital.

Crown Holdings (CCK): Shares are assumed with a Buy at Citigroup.

Eastman Chemical (EMN): The stock is a Hold at Jefferies.

Gold Miners: AngloGold (AU) is initiated with an Outperform at Credit Suisse, which has a new Neutral on Gold Fields (GFI) and an Underperform on Harmony Gold (HMY).

Health care: Bristol-Myers Squibb (BMY) is a new Neutral at Credit Suisse, which assigns Dow (^DJI) member Johnson & Johnson (JNJ) an identical rating with a $70 objective.

iStar Financial (SFI): Shares are initiated with a Buy at BTIG Research.

IntelliPharmaCeutics (IPCI): The stock is begun with a Buy at Brean Murray, which says the company can turn a profit by 2015.

Intrepid Potash (IPI): Shares are initiated with a Buy at Wunderlich.

Intuit (INTU): The company is begun with an Equal Weight at Evercore.

Life Technologies (LIFE): LIFE is launched with a Buy at WallachBeth.

Sealed Air (SEE): The Bubble Wrap maker, Monday's top S&P 500 (^GSPC) stock, is a new Neutral at Citigroup.

Yelp Inc. (YELP): Shares are picked up with a Neutral at Piper Jaffray.

(See also: Stock Downgrades: Checks Bouncing at Burberry and Stock Upgrades: Smooth Sailing for Catamaran Corp.)
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