New Stock Coverage: Urban Outfitters Boosted by Socks and the City


Compared to what Wall Street wrestled with exactly half a decade earlier , September 12, 2013 was no date destined to live in infamy. Still, the S&P 500 Index (INDEXSP:.INX) did drop for the first time all month in a session that saw some serious slumps. Let the chips, Wilson and otherwise , fall where they may about summed it up as EZchip Semiconductor ( EZCH ) nosedived a Nasdaq (INDEXNASDAQ:.IXIC)-worst 20.75% and Lululemon Athletica ( LULU ) lost 5.40% after announcing earnings. At least all things Apple ( AAPL ) didn't drop, with the troubled tech titan advancing 1.06% and an ad from Fiona helping Chipotle Mexican Grill ( CMG ) hit the highest level in its history. ( South-of-the-border cuisine is still best avoided , however.) The New York Times ( NYT ) tumbled 1.32% as Vladimir Putin preposterously penned an op-ed in its pages . This as a resurgent Nokia (NOK), which his predecessor Mikhail Gorbachev memorably put on the map in April 1987 , surged another 6.89%.

Today in economics, the preliminary Thomson Reuters/University of Michigan September consumer sentiment survey is out at 9:55 a.m. Eastern, and July business inventories follow at 10:00 a.m. On the corporate front, Pier 1 Imports (PIR) is the pick of quarterly earnings announcements.

Advisory Board (ABCO): The stock is begun with a Buy at Bank of America-Merrill Lynch.

Barclays (BCS): Jefferies starts Buy-rated research on the British bank.

ConocoPhillips (COP): The oil stock gets initiated with a Buy at Guggenheim.

Dexcom (DXCM): Shares are a new Overweight at JPMorgan.

Maximus (MMS): The business services stock is initiated with a Buy at Jefferies, whose price objective is $47.

MRC Global (MRC): Shares are a fresh Buy with Wunderlich, whose price objective is $33. It is poised to take advantage of a build out in energy infrastructure, the broker believes.

Pharmacy Stocks : Coven covers CVS Caremark (CVS) at Perform and has an Outperform and $62 target on Walgreens (WAG), which yesterday hit an all time high.

Urban Outfitters, Inc. (URBN): The apparel outfit, whose endlessly eclectic offerings include patriotic socks , is started with a bullish Buy at Sterne Agee. Its price objective is $45.

(See also: Stock Upgrades: Verizon Is Moving On Uptown and Stock Downgrades: Bitter Pill for Vitamin Shoppe .)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Stocks

Referenced Stocks: AAPL , CMG , EZCH , LULU , NYT



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