Analyst initiations 2-23-07: Citigroup started with an Overweight

MOST NOTEWORTHY:

RBC Capital Markets initiated three Chinese Internet companies this morning: Baidu.com Inc (NASDAQ: BIDU) with a Sector Perform and a $124 price target, SINA Corporation (NASDAQ: SINA) with a Sector Perform and a $39 price target, and Sohu.com Inc (NASDAQ: SOHU) with an Outperform and a $33 price target. RBC believes Sohu.com is well positioned to benefit from secular growth in online advertising and is the most direct beneficiary of the 2008 Beijing Olympics, as it hosts the official site.

OTHER INITIATIONS:

Citigroup Inc (NYSE: C) was initiated by JP Morgan with an Overweight. The firm sees performance in international, corporate and investment banking improving.
Callaway Golf Company (NYSE: ELY) was initiated by Morgan Joseph with a Buy and $19 price target.

Tags: analyst, baidu, bidu, c, callaway, china, citigroup, ely, firm, golf, initiation, internet, jp morgan, JpMorgan, morgan joseph, MorganJoseph, rbc, sina, sohu

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