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MOST NOTEWORTHY: Digital River Inc (DRIV) was today's only notable initiation. - American Technology initiated Digital River Inc (NASDAQ: DRIV) with a Buy rating and $65 target. The firm believes Q1 guidance could be weak, but feels weakness would be short-lived as investors gain a better understanding of Digital River's Microsoft Corp- (NASDAQ: MSFT) driven revenue and margin upside in the second-half of 2007...
OTHER INITIATIONS:
- Merriman initiated Idera Pharmaceuticals Inc (AMEX: IDP) with a Buy rating and put fair value at $10-$12 a share.
- Merrill Lynch reinstated Nvidia Corp (NASDAQL NVDA) and KLA-Tencor Corp (NASDAQ: KLAC) with Buy ratings.
- Jefferies initiated CommScope Inc (NYSE: CTV) with a Buy rating and $37.50 target; they believe CommScope is a solid play with trends such as increasing competition among cable operators and wireline service providers as well as increasing bandwidth consumption by enterprises.
- Raymond James started Keystone Automotive Inds Inc (NASDAQ: KEYS) with a Market Perform rating.
- Roth Capital initiated G. Willis Food Int'l Ltd (NASDAQ: WILC) with a Buy rating and 48 target; Roth expects the largest marketer and distributor in Israel of kosher food products to grow at a 15%-20% rate over the next several years.
- JP Morgan initiated Covanta Holding Corp (NYSE: CVA) with a Neutral rating on valuation.
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