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MOST NOTEWORTHY: Applied Materials (AMAT) and Marvel Entertainment (MVL) were the most notable companies initiated today: - Citing an unattractive valuation, Nollenberger initiated Applied Materials (NASDAQ: AMAT) with a Neutral rating.
- Susquehanna initiated Marvel Entertainment (NYSE: MVL) with a Positive rating, expecting strong earnings momentum for the foreseeable future driven by the success of licensed properties and the release of feature films.
OTHER INITIATIONS:
- Rochdale Research initiated shares of Callaway Golf (NYSE: ELY) with a Neutral rating and $12.50 target, citing valuation
- Prudential initiated MGIC Investment (NYSE: MTG) with an Underweight rating and $65 target; as they prefer business models that are less reliant on the U.S. mortgage insurance, the firm sees an unfavorable risk/reward.
- Merriman initiated TheStreet.com Inc (NASDAQ: TSCM) with a Buy rating. Merriman said TheStreet.com is transitioning to a Media Business model leveraging unique content assets and high organic user traffic. The firm likes the company's strategy to increase its mass market appeal towards the retail and professional investors.
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