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Analyst initiations 1-24-07: Morgan Stanley reinstates GM with an Equal-Weight

Posted Jan 24th 2007 11:36AM by Kevin ShultKevin Shult RSS Feed
Filed under: Before the Bell, General Motors (GM), Analyst Initiations, Level 3 Communications (LVLT)

MOST NOTEWORTHY: The only company that topped today's list of initiations was Armstrong World Industries Inc (NYSE: AWI).
  • Oppenheimer initiated Armstrong, whom they consider a relatively undiscovered, asbestos-related post-bankruptcy company, with a Buy rating and $55 target. They believe Armstrong could aggressively deliver its already conservative balance sheet and ultimately repurchase shares.
OTHER INITIATIONS:
  • General Motors Corp (NYSE: GM) was reinstated at Morgan Stanley with an Equal-Weight rating.
  • Cowen initiated Level 3 Communications Inc (NASDAQ: LVLT) with an Outperform rating.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Tags: analyst, Armstrong World Industries, ArmstrongWorldIndustries, awi, general motors, GeneralMotors, gm, initiation, level 3, Level3, lvlt, rating, rating changes, RatingChanges, theflyonthewall.com

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