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New Stock Coverage: Can Dick's Sporting Goods Score Big?

Posted
10/30/2013 9:10:00 AM
By: Minyanville
Referenced Stocks:ALL;CLX;OMC;PG;WDFC

Today is the anniversary of Wall Street's most famous headline , about its most dire day. That was then, this is now - how things change. ( Variety is, after all, the spice of life.) On this October 29, in stark contrast to 1929′s date of infamy, Dow Industrials (INDEXDJX:.DJI) and S&P 500 (INDEXSP:.INX) shares each reached historic peaks. Eighty-four years ago people jumped out of windows; yesterday Omnicom ( OMC ) was inspired by the man who fell to earth , with the advertising giant advancing 0.75% on upbeat analyst comments . Nasdaq (INDEXNASDAQ:.IXIC) hasn't fared quite as well as the other two indices, with five straight increases "only" taking it to a 13-year best. That still wasn't too shabby, considering how it was frozen in time for much of Tuesday. Having exhausted its previous excuses of squirrels and computers , " human error " got the blame this time. And it paid to be spic 'n span, with Clorox ( CLX ), up 1.40%, WD-40 Company ( WDFC ), a 2.60% gainer, and Tide maker Procter & Gamble ( PG ), which rose 1.43%, all hitting lifetime highs. Guys, you do really want to start cleaning up .

This afternoon, the Federal Open Market Committee concludes its two-day policy meeting. Hump Day of another busy quarterly earnings week is here, with Allstate ( ALL ), Barclays (BCS), Comcast (CMCSA), Expedia (EXPE), Facebook (FB), General Motors (GM), Kraft Foods (KRFT), Metlife (MET), Sprint (S), Starbucks (SBUX), and Visa (V) all due to release results.

Aegerion Pharmaceuticals (AEGR): FBR Capital begins the biotech with an Outperform opinion and $105 price objective amid optimism over its Juxtapid launch.

Dick's Sporting Goods (DKS): The stock, up 1.31% yesterday, is initiated with a Hold at Jefferies.

Drug Stocks : Alkermes (ALKS) ($31 target price), Biogen Idec (BIIB) ($259), and Forest Labs (FRX) ($48) are all assigned Market Performs at FBR Capital.

Ecolab (ECL): UBS launches Buy-rated research on ECL.

Michael Kors (KORS): The fashion firm, about to be added to the S&P 500 Index, is a fresh Buy at Maxim.

Skechers USA (SKX): Brean Capital starts the sneaker stock at a Buy.

(See also: Stock Downgrades: US Steel Is No Superman and Stock Upgrades: Electronic Arts Is Out of the Woods )