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Analysts’ reports are an important source for carrying out your stock research. I always pay attention to upgrades and downgrades given by analysts. But apart from these upgrades and downgrades, I also pay attention to initiations. Many a times, Initiations are a routine matter but at other times it may signify important events. The new coverage may precede some interesting events to be happened. In case of new and smaller companies, new coverage shows that the company is gaining confidence of expert community. But in any case, new coverage depicts revitalized interest in the company and generally it is a good sign. So, here is my list of major new initiations happened recently:
Dunkin’ Brands Group Inc. (NASDAQ:DNKN): The stock has received new coverage from Wedbush. It has been rated Neutral and its price target has been set at $31. The company is engaged in the business of running franchise of quick service restaurant. Dunkin’ Brands Group is based out of Massachusetts. The company recently reported its quarterly results. Its operating income for the quarter stood at $16.2 million, up 30 percent on year over year basis. The company’s revenue for the quarter was reported at $171.7 million, up 5 percent on YoY basis. Dunkin’ Brands Group reaffirmed its outlook for the entire year. The stock has traded in the range of $23.24 and $37.02 and it has Price Earnings ratio of 78.72. Dunkin’ Brands Group commands the market capitalization of $3.54 billion.
Kraft Foods Inc. (NASDAQ:KRFT): This stock has traded in the range of $42 and $48 in the past 52 weeks and it has received initial coverage with Buy rating from Canaccord Genuity. The stock has been given the price target of $50. Things look good for the company as it has affirmed its outlook for its future performance. It also reported strong numbers for its third quarter. Kraft Foods announced its net income at $470 million. On per share basis, its net income stood at 79 cents per share, up from 70 cents per share it had reported for the corresponding quarter of the last year. It expects to earn $2.60 per share for fiscal year 2013. However, it expects its fourth quarter revenue to remain flat.
Costco Wholesale Corporation (NASDAQ:COST): BMO Capital started its coverage of Costco with Outperform rating. The stock has received the price target of $115. Costco Wholesale Corporation recently reported its sales comps for the four week period ended on October 28 and reported positive growth. The stock has traded in the range of $78.81 and $104.43 in the past 52 weeks. Costco Wholesale Corporation is involved in the business of membership warehouses and it offers branded as well as private label products. The company is based out of Washington and it was formed in 1976. The stock trades at Price Earnings ratio of 25.01 and its beta is 0.47.
TripAdvisor Inc. (NASDAQ:TRIP): The company reported strong quarterly financial numbers. TripAdvisor Inc. has received initial recommendation of Buy from Stifel Nicolaus. Its price target has been set at $44. The stock traded in the range of $23.99 and $47.81 in the past 52 weeks. The travel company reported 9 percent increase in its net income to $59.4 million. On per share basis, its net income stood at 41 cents per share. It had reported its net income at $54.3 million for the corresponding quarter of the last year. TripAdvisor Inc. announced its quarterly revenue at $212.7 million, up 18 percent. The company was expected to report its revenue at $210.9 million. TripAdvisor Inc. is involved in the business of providing online travel services. The company is based out of Massachusetts.
ADT Corporation (NYSE:ADT): The stock received initial rating of Outperform rating from Oppenheimer. Its price target has been set at $50. ADT Corporation traded in the range of $35.38 and $43.00 in the past 52 weeks. The company provides automation solutions. ADT Corporation also offers companion services such as personal emergency response system. The company is based out of Boca Raton in Florida and it was founded in 1874. ADT Corporation stock is trading at Price Earnings ratio of 23.85 and it has market capitalization of $9.42 billion. ADT Corporation has 229.86 million shares outstanding in the market. The company’s most recent EPS was reported at $1.72.
