MOST NOTEWORTHY: Garmin Ltd (GRMN) and USA Mobility (USMO) were today's notable initiations.- JMP Securities initiated Garmin Ltd (NASDAQ: GRMN) with a Market Outperform and $60 target, saying that Garmin will benefit from strong GPS unit growth rates, a pick-up in aviation growth, also noting that checks indicate Garmin sales were strong over the holiday period.
- Soleil Securities started USA Mobility (NASDAQ: USMO) with a Sell rating and $11 target, as they believe USA Mobility is overvalued in a deteriorating industry.
OTHER INITIATIONS:
- USB initiated Level 3 Communications (NASDAQ: LVLT) with a Neutral rating and $7 target.
- First Albany started Quest Software (NASDAQ: QSFT) with a Neutral rating and $17 target, expecting volatile shares in the near-term due to the options investigation, but expects a resolution in 2007.
- BBN&T initiated NutriSystem Inc (NASDAQ: NTRI) with a Buy rating and $84 target. The firm believes NutriSystem is well positioned to sustain healthy earnings growth given consumer weight problems, along with the effectiveness and low consumer awareness of their program.
Struggling Playboy outsources business ops
J. Crew earnings preview: A strong Q3 all buttoned up?
Twitter to make acquisitions, generate revenue in 2010
