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New Stock Coverage: Noodles & Co Looks a Little Limp

By: Minyanville
Posted: 10/3/2013 9:22:00 AM
Referenced Stocks: CMTL;ESRT;M;MSG;TISI

Equities wore a crown of thorns as President Obama, who never promised us a rose garden (even in the Rose Garden ) and Congress continued to be at odds and Roseland, New Jersey-based ADP announced decidedly iffy private payroll growth. Both the Commander in Chief, always inordinately fond of the first-person pronoun , and Capitol Hill were politely reminded by the American people that there is no "I" in Team ( TISI ). (Just as well, on a day that stock nosedived an NYSE-worst 13.87%.) While Wall Street didn't do so well, with the Dow (INDEXDJX:.DJI) dropping for an eighth time in 10, there were triple miracles on 34th Street. The Empire State ( ESRT ) Building owner bucked a bad tape to increase 0.77% after its IPO, Macy's ( M ) jumped 1.22% - even if its slave-driver bosses are total turkeys - and Madison Square Garden ( MSG ) - better than any rose garden - gained 0.17% after being anointed the country's coolest arena .

Today in economics, analysts expect to see a slippage in September's Institute for Supply Management services index at 10:00 a.m. Eastern. On the corporate earnings front, Comtech Telecommunications ( CMTL ), Constellation Brands (STZ), International Speedway (ISCA), and Xyratex (XRTX) are all due to release results.

Angie's List (ANGI): Shares, slumping before the bell after cutting certain membership prices by about 75%, are nonetheless initiated with a Buy at MKM Partners.

Arena Pharmaceuticals (ARNA): Cowen establishes a Market Perform rating and $4.50 price target on ARNA.

Coach (COH): COH is covered with a Buy opinion and $66 price objective at Cantor Fitzgerald, which is impressed with its sales momentum.

ExamWorks (EXAM): Needham assigns a Buy recommendation on EXAM, citing stable costs and increased market share. Its price objective is $31.

LivePerson (LPSN): Janney has a new Neutral on the business services name.

Mast Therapeutics (MSTX): Canaccord Genuity begins the biotech microcap, up impressively before the bell, with a Buy rating and $3 price target.

Murphy Oil (MUR): The energy outfit is a new Neutral at Credit Suisse, whose target price is $70.

Noodles & Co (NDLS): Shares are begun with an uninspiring Equal Weight rating at Barclays. Its objective is $39.

NPS Pharmaceuticals (NPSP): NPSP is a new Buy at Bank of America-Merrill Lynch.

Regions Financial (RF): Wunderlich resumes Buy-rated research and a $12 target on RF, highlighting the substantial discount its shares trade at relative to industry rivals.

TC Pipelines (TCP): RBC Capital launches Sector Perform rated coverage of the limited partnership. Its price objective is $51.

Tiffany & Co (TIF): Market share increases sees the upscale jeweler score a Buy initiation and $88 objective at Cantor.

Yara (OTCMKTS:YARIY): Barclays has a fresh Equal Weight on the fertilizer firm.

(See also: Stock Upgrades: Vivus Stock Is to Diet For and Stock Downgrades: Fair-Weather 'Friends' Flee Facebook .)