Bank Analysts Initiate New Stock Coverage August 31st

Wall St. Watchdog reveals information about companies for which stock analysts initiated coverage on August 31st.

  • Valspar (NYSE:VAL): Barclays Capital initiated coverage of this company with a rating of Equal Weight and a price target of $35.  About the company: The Valspar Corporation manufactures and distributes coatings, coating intermediates, and specialty chemical products. The Company manufactures products such as wood coatings, metal coatings, composites and glass coatings, polymers, resins, and dispersions products. Valspar distributes its products to customers in North America and other countries around the world.
  • SunCoke Energy (NYSE:SXC): Barclays Capital initiated coverage of this company with a rating of Overweight and a price target of $20.  About the company: SunCoke Energy, Inc. (SunCoke) is an independent producer of metallurgical coke in the Americas. The Company acquires, owns, and operates the coke making and coal mining operations of Sunoco.
  • Sherwin-Williams (NYSE:SHW): Barclays Capital initiated coverage of this company with a rating of Equal Weight and a price target of $81.  About the company: The Sherwin-Williams Company manufactures, distributes, and sells paints, coatings, and related products. The Company’s products are sold to professional, industrial, commercial, and retail customers primarily in North and South America. Sherwin Williams also has additional operations in the Caribbean region, Europe and Asia.
  • Praxair (NYSE:PX): Barclays Capital initiated coverage of this company with a rating of Equal Weight and a price target of $105.  About the company: Praxair, Inc. supplies gas to industries primarily located in North and South America. The Company produces, sells, and distributes atmospheric gases including oxygen, nitrogen, argon, and rare gases, as well as process gases including carbon dioxide, helium, hydrogen, electronics gases, and acetylene. Praxair also supplies metallic and ceramic coatings and powders.
  • PPG Industries (NYSE:PPG): Barclays Capital initiated coverage of this company with a rating of Equal Weight and a price target of $85.  About the company: PPG Industries, Inc. supplies products for the manufacturing, construction, automotive, chemical processing, and other industries worldwide. The Company makes protective and decorative coatings, flat glass, fabricated glass products, continuous-strand fiber glass products, and industrial and specialty chemicals.
  • LyondellBasell (NYSE:LYB): Barclays Capital initiated coverage of this company with a rating of Overweight and a price target of $43.  About the company: LyondellBasell Industries NV is a manufacturing company. The Company produces chemicals, fuels, and polymers used for packaging, clean fuels, durable textiles, medical applications, construction materials, and automotive parts. LyondellBasell Industries operates globally and is headquartered in the Netherlands.
  • Eastman Chem (NYSE:EMN): Barclays Capital initiated coverage of this company with a rating of Equal Weight and a price target of $92.  About the company: Eastman Chemical Company is an international chemical company which produces chemicals, fibers, and plastics. The Company’s operations include coatings, adhesives, specialty polymers, and Inks, fibers, performance chemicals and intermediates, performance polymers, and specialty plastics.
  • DuPont (NYSE:DD): Barclays Capital initiated coverage of this company with a rating of Equal Weight and a price target of $52.  About the company: E. I. du Pont de Nemours and Company is a global chemical and life sciences company, with businesses that include agriculture and industrial biotechnology, chemistry, biology, materials science and manufacturing. The Company operates globally and offers a wide range of products and services for markets including agriculture and food, building and construction, electronics and communications.
  • Dow Chemical (NYSE:DOW): Barclays Capital initiated coverage of this company with a rating of Equal Weight and a price target of $34.  About the company: The Dow Chemical Company is a diversified chemical company that provides chemical, plastic, and agricultural products and services to various essential consumer markets. The Company serves customers in countries around the world in markets such as food, transportation,health and medicine, personal care, and construction.
  • Celanese (NYSE:CE): Barclays Capital initiated coverage of this company with a rating of Overweight and a price target of $49.  About the company: Celanese Corporation is a global industrial chemicals company. Its business involves processing chemical raw materials, such as ethylene and propylene, and natural products, including natural gas and wood pulp, into chemicals and chemical-based products.
  • Air Products (NYSE:APD): Barclays Capital initiated coverage of this company with a rating of Overweight and a price target of $97.  About the company: Air Products and Chemicals, Inc. produces industrial gas and related industrial process equipment. The Company also produces and markets polymer chemicals, performance chemicals, and chemical intermediates. Air Products recovers and distributes oxygen, nitrogen, argon, hydrogen, carbon monoxide, carbon dioxide, synthesis gas, and helium, as well as medical and specialty gases.
  • Rhino Resource Partners (NYSE:RNO): BB&T Capital Mkts initiated coverage of this company with a rating of Hold.  No price target was given.  About the company: Rhino Resource Partners LP produces and markets coal in Central and Northern Appalachia. The Company markets a broad range of mid to high Btu, low to medium sulfur steam coal to a diverse customer base of electric utilities in the United States.
  • Francesca’s (FRAN): RBC Capital Mkts initiated coverage of this company with a rating of Outperform and a price target of $30.  About the company: Franklin Resources, Inc. provides investment advisory services to mutual fund, retirement, institutional/separate accounts and high net worth investors. The Company manages various asset classes including domestic, international/global and emerging markets equity, domestic, international and municipal fixed income, money funds, alternative investments, and hedge funds.
  • Chesapeake Midstream Partners (NYSE:CHKM): RBC Capital Mkts initiated coverage of this company with a rating of Outperform and a price target of $32.  About the company: Chesapeake Midstream Partners LP owns, operates, develops, and acquires natural gas gathering systems and other midstream energy assets. The Company is principally focused on natural gas gathering, the first segment of midstream energy infrastructure that connects natural gas produced at the wellhead to third-party takeaway pipelines.
  • Kroger (NYSE:KR): Hilliard Lyons initiated coverage of this company with a rating of Buy and a price target of $27.  About the company: The Kroger Co. operates supermarkets and convenience stores in the United States. The Company also manufactures and processes some of the foods that its supermarkets sell.
  • Old Ntnl Bancorp (NYSE:ONB): Hilliard Lyons initiated coverage of this company with a rating of Neutral.  No price target was given.  About the company: Old National Bancorp is a multi-bank holding company operating in Indiana, Illinois, Ohio, Kentucky, and Tennessee. The Banks provide commercial and consumer loans, originate and service mortgage loans, issue and service credit cards, offer various deposit products, and provide alternative investments and brokerage services.
  • Immunomedics (NASDAQ:IMMU): Summer Street Research initiated coverage of this company with a rating of Buy and a price target of $8.  About the company: Immunomedics, Inc. develops, manufactures, and sells diagnostic imaging and therapeutic products. The Company’s products are used to detect and treat cancer and infectious diseases. Immunomedics markets its products in the United States and Europe.
  • Francesca’s (FRAN): Stifel Nicolaus initiated coverage of this company with a rating of Hold.  No price target was given.  About the company: Francesca’s Holdings Corporation (Holdings) is a holding company. The Company’s business operations are conducted through its wholly owned indirect subsidiary, Francesca’s Collections, Inc.
  • Apollo Residential Mortg (AMTG): Stifel Nicolaus initiated coverage of this company with a rating of Buy and a price target of $21.  About the company: Apollo Residential Mortgage, Inc. is residential real estate finance company that has been formed primarily to invest in, finance and manage mortgage-backed securities, residential mortgage loans and other residential mortgage assets in the United States.
  • Columbia Sportswear (NASDAQ:COLM): FBR Capital initiated coverage of this company with a rating of Mkt Perform and changed its price target from $63 to $61.  About the company: Columbia Sportswear Company designs, manufactures, markets, and distributes active outdoor apparel. The Company’s products include outerwear, sportswear, rugged footwear, and related accessories. Columbia’s products are sold to specialty and department store retailers in the United States and other countries.
  • LogMeIn (NASDAQ:LOGM): Wunderlich initiated coverage of this company with a rating of Buy and a price target of $47.  About the company: LogMeIn, Inc. offers remote connectivity services to computers for mobile professionals, and help desk and systems administrators worldwide.
  • LivePerson (NASDAQ:LPSN): Wunderlich initiated coverage of this company with a rating of Buy and a price target of $18.  About the company: LivePerson, Inc. provides technology that facilitates real-time sales and customer service for companies doing business on the Internet. The Company, an application service provider, offers its real-time interaction technology as an outsourced service. The LivePerson service enables its clients to communicate directly with Internet users via text-based chat.
  • Constant Contact (NASDAQ:CTCT): Wunderlich initiated coverage of this company with a rating of Buy and a price target of $38.  About the company: Constant Contact, Inc. provides web-based e-mail marketing tools and services to businesses, associations, and organizations to help them connect with their customers and members.
  • Lionbridge Tech (NASDAQ:LIOX): Wunderlich initiated coverage of this company with a rating of Buy and a price target of $5.  About the company: Lionbridge Technologies, Inc. provides globalization and multilingual Internet services to technology companies worldwide. The Company’s software, test, Web, and linguistic engineering groups create and maintain multilingual versions of its clients’ software and hardware, as well as Web-based technical support, training materials, and sales and marketing information.
  • Concur Tech (NASDAQ:CNQR): Wunderlich initiated coverage of this company with a rating of Buy and a price target of $56.  About the company: Concur Technologies, Inc. provides workplace eCommerce software and services that extend automation to employees, partners, vendors, and service providers. The Company’s Concur eWorkplace product integrates its suite of workplace eCommerce solutions and provides a portal through which employees can access eCommerce information and services.
  • RealPage (NASDAQ:RP): Wunderlich initiated coverage of this company with a rating of Buy and a price target of $32.  About the company: RealPage, Inc. provides products and services to the multifamily real estate industry. The Company’s services include applicant screening, accounting, budgeting, property management, and compliance reporting. RealPage also develops and delivers proprietary Web-based applications that enhance client information management capabilities.
  • Ultimate Software (NASDAQ:ULTI): Wunderlich initiated coverage of this company with a rating of Buy and a price target of $70.  About the company: The Ultimate Software Group, Inc. designs, markets, implements, and supports Web-based and client/server cross-industry human resource management and payroll software solutions. The Company’s solutions are marketed primarily to middle-market organizations. Ultimate’s products automate HRMS/payroll functions and are enabling tools in the management of the employee life cycle.
  • Rightnow Tech (NASDAQ:RNOW): Wunderlich initiated coverage of this company with a rating of Buy and a price target of $39.  About the company: RightNow Technologies, Inc. provides on demand customer relationship management software and services. The Company’s solution uses a self-learning knowledgebase to deliver customer self-service, e-mail management, live interaction, issue tracking, and customer satisfaction measurement capabilities.
  • NetSuite (NYSE:N): Wunderlich initiated coverage of this company with a rating of Hold and a price target of $31.  About the company: NetSuite Inc. provides relationship management software solutions . The Company offers a comprehensive suite of enterprise resource planning, or ERP, customer relationship management, or CRM, and e-commerce solutions.
  • Vocus (NASDAQ:VOCS): Wunderlich initiated coverage of this company with a rating of Buy and a price target of $38.  About the company: Vocus, Inc. provides web-based software for public relations automation.
  • IntraLinks Holdings (NYSE:IL): Wunderlich initiated coverage of this company with a rating of Buy and a price target of $18.  About the company: Intralinks Holdings, Inc. provides Software-as-a-Service (NASDAQ:SAAS) solutions for managing content, exchanging business information and collaborating within and among organizations. The Company’s software enables organizations to control, track, search, and exchange time-sensitive information without the use of email, fax, courier services and other existing solutions to exchange information.
  • Salesforce.com (NYSE:CRM): Wunderlich initiated coverage of this company with a rating of Buy and a price target of $168.  About the company: Salesforce.com, Inc. provides software on demand. The Company supplies a customer relationship management service to businesses worldwide providing a technology platform for customers and developers to build and run business applications. Clients use Salesforce.com to manage their customer, sales and operational data.

(Note: Data on stock ratings are sourced from Briefing.com via the Wall St. Journal.  All data are assumed to be accurate.)

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