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New Stock Coverage: Sherwin-Williams Set to Paint Town Red


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

MINYANVILLE ORIGINAL On a day the CIA rang the opening bell, markets were able to avoid both a Bay of PIIGS and sea of red, although Europe's Club Med countries remain a concern. Shares staggered to a split decision, with the Dow (^DJI) up for a fifth session in six even as the S&P 500 (^GSPC) slipped for a second straight day.

A noted national foundation chose National Cheeseburger Day to issue a dire warning on America's weighty woes while Vivus (VVUS) surged 6.59% on high hopes for its anti-obesity drug. Kohl's (KSS) was hot, announcing it will hire 52,700 holiday workers, and coal was not, with Alpha Natural Resources (ANR) tumbling 2.48% after announcing it will close eight mines dedicated to the fossil fuel. China and Japan remain at daggers drawn, but agree the US is the only place to be.

Today in economics, August existing home sales are announced at 10:00 a.m. Eastern. In earnings action, Adobe Systems (ADBE), Ascena Retail Group (ASNA), AutoZone (AZO), Bed Bath & Beyond (BBBY), Clarcor (CLC), Cracker Barrel Old Country Store (CBRL), General Mills (GIS), Herman Miller (MLHR), and Steelcase (SCS) are all due to report results.

Achillion Pharmaceuticals (ACHN): Shares are begun with a Buy at Deutsche Bank.

Allergan (AGN): Canaccord has a Hold on the Botox maker and issues a price objective of $101.

ArcelorMittal (MT): The steel stock is started with a Sell at BTIG, whose target price is $11.

ASML Holding (ASML): The stock is initiated with an Overweight at JPMorgan.

Baxter International (BAX): BAX gets begun with an Outperform at BMO Capital Markets.

Carlisle Cos (CSL): Shares are a new Neutral at Sun Trust Rbsn Humphrey.

Chemical Companies: Dow Chemical (DOW), Dow (^DJI) member DuPont (DD), PPG Industries (PPG), and Eastman Chemical (EMN) are all Sector Performs at RBC Capital. Outperforms are assigned on LyondellBasell (LYB) and Valspar (VAL).

Clean Energy Fuels (CLNE): Shares are a Hold at KeyBanc Capital.

Dover (DOV): DOV is begun with a Buy and $71 target at Capstone Investments, which highlights margin improvement opportunities as well as an attractive dividend of 2.3%

Sherwin-Williams (SHW): The paint and coatings maker is initiated with a Top Pick at RBC Capital.

Tidewater (TDW): Shares are an Outperform at Wells Fargo.

(See also: Stock Downgrades: Bed Bath & Beyond Takes a Beating and Stock Upgrades: Marathon Oil in for the Long Haul.)
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