Analyst initiations: AEO, ANN, BEBE, CHS and FLEX

MOST NOTEWORTHY: The electronics manufacturing services sector was today's noteworthy initiation:

Credit Suisse initiated coverage of the EMS sector with an Underweight. The firm believes the industry is burdened with overcapacity in high-cost manufacturing regions, with hyper competition, allowing for no pricing power.

The analyst initiated Flextronics International Ltd (NASDAQ: FLEX) with an Outperform rating.
Benchmark Electronics, Inc (NYSE: BHE), Jabil Circuit, Inc (NYSE: JBL), Plexus Corp (NASDAQ: PLXS) and Sanmina-SCI Corp (NASDAQ: SANM) were started with Neutral ratings.
Celestica Inc (NYSE: CLS) and Solectron Corp (NYSE: SLR) were initiated with Underperform ratings.

OTHER INITIATIONS:

Nollenberger initiated Chico's FAS, Inc (NYSE: CHS), Cache, Inc (NASDAQ: CACH) and AnnTaylor Stores Corp (NYSE: ANN) with Neutral ratings.
Nollenberger also started coverage of Bebe Stores, Inc (NASDAQ: BEBE) and American Eagle Outfitters (NYSE: AEO) with Buy ratings.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Tags: aeo, american eagle, AmericanEagle, analyst, ann, bebe, benchmark, bhe, cach, cache, celestica, chico's, chs, cls, flex, flextronics, initiation, jabil, jbl, plexus, plxs, rating, sanm, sanmina, slr, solectron, theflyonthewall.com

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