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New Stock Coverage: Petrobras Way to Play Brazil Boom


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

MINYANVILLE ORIGINAL As summer ended, stocks embraced the fall. Equities finished lower in their first trading activity after Labor Day as iffy manufacturing data dampened the mood, though markets did end off their worst levels amid hopes Europe will finally get serious about its debt crisis. (This while we in America now have 16 trillion reasons to do the same.)

Food stamp use rose to a record and soup kitchens are also depressingly active if a 27% surge in quarterly profit at Campbell's (CPB) is any indication. Ford (F), for whom September 4 brings back unwelcome memories of one of the greatest corporate fiascoes in history, had reason to enjoy the anniversary after announcing its August sales jumped 13.1%.

Today's earnings announcements are due to include AeroVironment (AVAV), Conn's Inc. (CONN), Dollar General (DG), H&R Block (HRB), Harry Winston Diamond (HWD), Men's Wearhouse (MW), SeaChange International (SEAC), and VeriFone (PAY).

Activision Blizzard (ATVI): Shares are initiated with a Buy at Jefferies, whose price objective is $16.

Aerospace: Imperial Capital has an Outperform and $30 price objective on Hexcel (HXL) and starts Spirit Aerosystems (SPR) at In-line with a $28 target price.

AmREIT (AMRE): The stock is begun with a Buy at Jefferies.

Beazer Homes (BZH): Shares are resumed with an Underperform at JMP Securities.

Blount International (BLT): The stock is initiated with an Outperform by William Blair, whose target is $17.

British Supermarkets: BNP Paribas begins Underperforms on J. Sainsbury (JSAIY), Tesco (TSCDY), and William Morrison (MRWSY).

Chesapeake Energy (CHK): Barclays begins research at Equal Weight.

Cornerstone OnDemand (CSOD): Shares are a new Neutral at UBS, whose target is $28.

Commercial Vehicle Group (CVGI): Shares are a new Neutral at Credit Suisse.

DigitalGlobe (DGI): Piper Jaffray picks up the stock at Overweight.

Freescale Semiconductor (FSL): FSL is a fresh Outperform at Cowen.

Internet Stocks: Jefferies begins Buys on AOL Inc. (AOL), Facebook (FB), and LinkedIn (LNKD). It has Holds on (ACOM), Groupon (GRPN), InterActiveCorp (IACI), TripAdvisor (TRIP), and Zynga (ZNGA).

Oil Services: Crédit Agricole assigns Outperforms on, among others, Atwood Oceanics (ATW) ($50 price objective), Baker Hughes (BHI) ($53), Halliburton (HAL) ($38), Transocean (RIG) ($57), and Weatherford International (WFT) ($15.) Its Buys include Schlumberger (SLB) ($90 target.)

Peregrine Semiconductor (PSMI): Shares are a Market Perform at Charter Equity.

Petrobras (PBR): The Rio-based oil giant is resumed with a Buy at Jefferies, which expects losses in their downstream unit to abate as fuel prices rise.

Rio Tinto (RIO): RIO is initiated with an Outperform at Bernstein.

Shutterfly (SFLY): Jefferies has a Hold and $29 target on SFLY.

TiVo Inc. (TIVO): TIVO is a new Buy at Jefferies.

ViroPharma (VPHM): Shares are initiated with a Buy at Deutsche Bank.

(See also: Stock Upgrades: Time Warner Ticking Over Nicely and Stock Downgrades: Check Not in the Mail for FedEx.)

(See also: SEC Says Retail Investors Are Clueless About Stocks.)
No positions in stocks mentioned.
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