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New Stock Coverage: Avis Learns the Hard Way That Love Hertz
In terms of economic events that may move US markets today, analysts expect November's budget deficit to widen at 2:00 p.m. Eastern. Regarding specific stocks, Costco (COST), Inditex (MCE:ITX), Joy Global (JOY), Men's Wearhouse (MW), and Nordson (NDSN) are all due to release results. And Hilton Worldwide (HLT) prices its initial public offering.
Brocade (BRCD): Citigroup starts the stock at a Sell.
BlackBerry (BBRY): BlackBerry stock is trading lower today after Citi transitioned analyst coverage with a Sell from the prior Neutral. BlackBerry stock has recently traded to 10-year lows.
Car Rental Companies : Deutsche Bank has only a Hold on Avis Budget Group (CAR) but begins Buy-rated research on its archival Hertz Global Holdings (HTZ). Its respective stock price objectives are $42 and $33.
Corning (GLW): The glass giant gets assigned a new Neutral at Citigroup.
eHealth (EHTH): Jefferies starts the stock at a Buy. Its target price is $56.
F5 Networks (FFIV): Citi has a fresh Buy on FFIV.
Networking Stocks : Mizuho has a new Neutral on and $23 target on Dow (INDEXDJX:.DJI) member Cisco Systems (CSCO), but is more upbeat on Buy-rated Juniper Networks (JNPR), on which it has a $28 target. (Note that Cisco was separately started with a rare Sell rating at Citigroup, whose objective is $18.)
Ratings Agencies : McGraw-Hill Financial (MHFI) and Moody's (MCO) are each initiated with Outperforms at Credit Suisse.
Telecom Stocks : Mizuho has a Buy and $15 price objective on Ericsson (ERIC). Nokia (NOK), however, only rates a Neutral ($8 objective) amid uncertainty surrounding its strategy and cash deployment.
3D Printing : Jefferies begins Buys on ExOne (XONE), 3D Systems (DDD), and Stratasys (SSYS), assigning respective price objectives of $72, $102, and $155.
Twitter (TWTR): The stock, a stellar performer thus far in December, is only a Neutral at Macquarie. Valuation issues loom understandably large.
(See also: Stock Upgrades: 3M Gets Out of a Sticky Situation and Stock Downgrades: W.R. Grace Isn't Amazing )