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New Stock Coverage: Starbucks Easily Worth Eighty Bucks

By: Minyanville
Posted: 9/5/2013 9:22:00 AM
Referenced Stocks: CONN;F;GM;JCP;ZLC

They say never wear white after Labor Day, but yesterday a benign beige book was just fine for equities. Dow Industrials (INDEXDJX:.DJI) enjoyed their single best session in five weeks as Ford ( F ) and General Motors ( GM ) - up a respective 3.49% and 5.01% - each breathed new life into moribund Motown. This as home state hero the University of Michigan gleefully pocketed $200 million even while simultaneously saying that being a cheapskate is the only ticket to true love . They know a thing or two about thrift in Scotland, where a couple just tied the knot for $1.56 . Still, on the birthday of Beyoncé , someone was splashing cash to "put a ring on it." Diamond retailer Zale Corp ( ZLC ), up more than 30% last week, rose another 6.25%. Penney ( JCP ) pinchers fear not, however, for that stock survived an iffy analyst initiation to jump 6.13%.

Today in economics, consensus calls for a falloff in factory orders for July and August's Institute for Supply Management non-manufacturing index, each out at 10:00 a.m. Eastern. On the quarterly earnings front, Conn 's ( CONN ), Finisar (FNSR), Quiksilver (ZQK), Smith & Wesson (SWHC), and VeriFone (PAY) are all expected to release results.

Advanced Energy Industries (AEIS): Raymond James resumes the diversified electronics outfit at an Outperform.

AGCO Corp (AGCO): Morgan Stanley starts the stock at Overweight.

Allscripts-Misys Healthcare (MDRX): The medical appliance firm is a fresh Hold at KeyBanc Capital Markets.

Caterpillar (CAT): The company, a key Dow (INDEXDJX:.DJI) component, is covered at Equal-Weight by Morgan Stanley.

Deere (DE): The tractor titan gets assigned an Underweight at Morgan Stanley.

Greenway Medical (GWAY): KeyBanc Capital starts the stock at a Buy.

Jones Energy (JONE): The independent oil and gas outfit gets begun with Buys at both Jefferies and Stifel ($20 target price.)

Joy Global (JOY): Morgan Stanley starts the maker of mining equipment at Equal-Weight.

Nokia (NOK): There's no keeping the Finnish telecom firm out of the news this week. Today it is set a fresh Equal-Weight at Morgan Stanley.

Spectrum Brands Holdings (SPB): Credit Suisse has a new Neutral on the consumer goods name, whose offerings include George Foreman and Remington.

Starbucks Corporation (SBUX): The coffee king, whose shares closed at $72.14 on Wednesday, is established at Outperform with Wedbush. Its price objective is $80.

Trimble Navigation (TRMB): Robert W. Baird resumes Outperform-rated research and assigns a price objective of $36. The stock stands to benefit from burgeoning worldwide demand for mobile automation, in the broker's estimation.

United Rentals (URI): Shares are picked up at Equal-Weight by Morgan Stanley.

(See also: Stock Upgrades: Groupon Is Your Deal of the Day and Stock Downgrades: Tears at Comedy Central Owner Viacom .)