Analyst initiations 5-11-07: DOW, NILE, WINN and ZQK
Posted May 11th 2007 11:32AM by Kevin Shult
Filed under: Before the Bell, Dow Chemical (DOW), Analyst Initiations
MOST NOTEWORTHY: Dow Chemical (DOW), Smart Modular (SMOD), Wolverine World Wide (WWW), Win-Dixie Stores (WINN) and Blue Nile (BLUE) were today's noteworthy initiations:
- UBS is positive on the ethylene cycle over the next two years and believes Dow Chemical (NYSE: DOW) can beat 2008 consensus estimates, initiating shares with a Buy rating.
- JMP Securities started Smart Modular (NASDAQ: SMOD) with a Strong Buy as a unit volume growth theme without much dependence on commodity memory chip pricing.
- Citigroup expects further upside given Wolverine World Wide's (NYSE: WWW) strong portfolio of brands, further growth opportunities through line extensions and international growth. The firm started Wolverine World Wide with a Buy rating and $33 target.
- Winn-Dixie Stores (NASDAQ: WINN) was started with a Market Perform rating, citing low levels of profitability and unproven ability to drive sustainable profitable sales.
- American Technology believes the valuation of Blue Nile (NASDAQ: NILE) leaves little room for upside, despite a highly attractive business model and strong fundamentals, and started shares with a Sell rating and $45 target...
OTHER INITIATIONS:
- Longbow started Mips Tech (NASDAQ: MIPS) with a Buy rating and $12 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: analyst, blue nile, BlueNile, dow, initiation, kg, king, mips, nile, quicksilver, rating, sciele, scrx, sepracor, smart, smod, sper, theflyonthewall.com, winn, winn-dixie, wolverine, www, zqk
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