TheStreet jumps after underwriters kick off coverage

Shares of TheStreet.com Inc. (Nasdaq: TSCM) rose 3 7/8 to 33 7/16, up 13 percent, on Monday after the underwriters of the online financial news and advice Web site began coverage.

Goldman Sachs, the lead underwriter, started with a "market outperform" opinion and Hambrecht & Quist initiated its coverage with a "buy" rating. Also, SG Cowen, which was not an underwriter, rated TheStreet a "buy" in new coverage and established a 12-month share price target at $45 a share.

TheStreet shares jumped more than 200 percent when it began trading in May, from an offering price at $19 a share.

Since its debut, TheStreet has drifted lower as more IPOs piled into the market and investors chased after the next rising star. The Street.com competes with ZD Inter@ctive Investor, the finanical channel of ZDNet Inc. (NYSE: ZDZ).

In related news, CS First Boston analyst Lise Buyer initiated coverage of CareerBuilder Inc. (Nasdaq: CBDR) with a "buy" rating. CS First Boston was the lead underwriter for CareerBuilder's IPO last month.

CareerBuilder gained 7/16 to 12 1/8. The company priced its IPO at $13.

"We believe that the company's highly differentiated network approach to online recruiting will help the company establish itself as the segment leader," Buyer wrote in a research report.

In addition, BancBoston Robertson Stephens reiterated its "buy" rating on Critical Path Inc. (Nasdaq: CPTH), following its purchase of Fabrik Connect last week.