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MOST NOTEWORTHY: Seagate (STX) and Alberto-Culver (ACV) topped today's initiation list.
- RBC Capital Markets started Seagate Technology (NYSE:STX) with a Sector Perform, noting that moderate desktop and notebook trends, along with the ongoing Maxtor integration, have impacted recent performance.
- Prudential initiated Alberto-Culver Company (NYSE:ACV) with a Neutral rating and $22 target, citing valuation and cost challenges.
OTHER INITIATIONS:
- Kona Grill Inc. (NASDAQ:KONA) was initiated with an Outperform rating at Ryan Beck; The firm said Kona's emerging restaurant concept is in its infancy in terms of growth with strong productivity and unit-level economics.
- First Albany initiated Claire's Stores Inc. (NYSE:CLE) with a Neutral rating, citing expectations of gross margin pressure from additional lower margin accessory sales.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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