New Stock Coverage: Mattress Firm Holding Set to Sleep With the Fishes?
In terms of events that may move US markets this morning, the confirmation hearing for Janet Yellen to head the Fed commences at 10:00 a.m. Eastern. Regarding specific stocks, expect earnings announcements out of Agilent ( A ), Applied Materials (AMAT), Burberry (OTCMKTS:BURBY), Helmerich & Payne (HP), Kohl's Corp (KSS), Manchester United (MANU), Merck KGaA (OTCMKTS:MKGAY), Nordstrom (JWN), Tyco (TYC), Viacom (VIAB), Vivendi (OTCMKTS:VIVHY), and Wal-Mart Stores (WMT).
Bright Horizons (BFAM): Wells Fargo starts the starts the stock at Outperform.
Burlington Stores (BURL): Burlington Stores, owner of the eponymous Coat Factory, is begun with an upbeat Outperform at BMO Capital, whose price objective is $33. Bank of America-Merrill Lynch assigns an equally bullish Buy on Burlington Stores, a recent initial public offering.
Echo Global Logistics (ECHO): Cowen covers the company with an Outperform. Its target price is $23 on a stock it says may benefit from acquisition activity among transportation brokers.
Essent Group (ESNT): The mortgage investment outfit is an Outperform at JMP Securities, whose objective is $25.
Heritage Oaks Bancorp (HEOP): Keefe Bruyette has an Outperform, and $9 target, on HEOP.
Mattress Firm Holding Corp (MFRM): Mattress Firm Holding Corp, up 1.68% yesterday, is today launched with a squishy Neutral at Longbow. Over the past 12 months, Mattress Firm Holding Corp stock is up 21.02%
Oil Stocks : BP Plc (BP) is a new Neutral at Credit Suisse, which rates rival Royal Dutch Shell (NYSE:RDS.A) an Outperform.
SanDisk (SNDK): Brokerage boutique Drexel Hamilton starts SanDisk at a Buy. Since November 2012, SanDisk stock is up an extremely impressive 72.74%.
(See also: Stock Upgrades: Sony Shows Why It's Good to Be George Clooney and Stock Downgrades: Cisco Systems on Route to Ruin )