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New Stock Coverage: Coach Stuck in Neutral


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

MINYANVILLE ORIGINAL The refusal of a key German court to say nein nein nein to a European bailout duly sent the Dow (^DJI) up 9.99, although the current economic calamity was presumably not what the continent envisaged when it cleared the way for a reunified Berlin 22 years ago to the day amid a burst of unbridled optimism.

Cynics will say that when National Bank of Greece (NBG), up 16.52%, is the NYSE's top stock the rally should be taken with a fair amount of skepticism. And the bulls shopping in China are likely to be increasingly disappointed, if a 22.49% tumble in China Ceramics (CCCL) to a lifetime low is any indication.

Here at home, Bill Clinton's bravura speech last week promising a return to the 1990s appears to be working. Although maybe not in the way Bubba intended, with median household income now officially at levels not seen since the middle of the decade.

Today at 12:30 p.m. Eastern, the Federal Open Market Committee is expected to announce its eagerly awaited decision on interest rates. The Fed's economic forecasts follow at 2:00 p.m., and Ben Bernanke holds his press conference at 2:15 p.m. In earnings action, Analogic (ALOG), Pier 1 Imports (PIR), and SED International (SED) are all due to report results.

Almost Family (AFAM): Jefferies has a Hold, and $23.50 target price, on AFAM.

Amedisys (AMED): Shares are assumed with a Hold at Jefferies

Haemonetics (HAE): The stock is begun with a Buy at The Benchmark Company, which cites mid-single digit organic revenue growth in its blood products management businesses.

QR Energy (QRE): The Limited Partnership is launched with a Buy at Wunderlich, whose target is $22.

Shipping Stocks: Global Hunter has a reduce on Nordic American Tankers (NAT), assigns new Neutrals on Navios Acquisition (NNA) and Overseas Shipholding (OSG), has an Accumulate on Ship Finance International (SFL), and begins Buys on Scorpio Tankers (STNG) and Tsakos Energy (TNP).

Tech Stocks: Jefferies begins blue chip (^DJI) Microsoft (MSFT) with a Hold and resumes Red Hat (RHT) at a Buy. Its respective price objectives are $35 and $67.

Retail Sector: Coach (COH) is a new Neutral at Citigroup, along with Gap Inc. (GPS). Buys are American Eagle (AEO), Ascena Retail (ASNA), Michael Kors (KORS), Ross Stores (ROST), Signet Jewelers (SIG), Tiffany (TIF), and TJX Cos (TJX). Abercrombie & Fitch (ANF) is a Sell.

Taseko Mines (TGB): Shares are initiated with an Underperform at Bank of America-Merrill.

(See also: Stock Upgrades: Jive Software Set to Jump and Stock Downgrades: Nike Just Not Doing It.)
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No positions in stocks mentioned.
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