Analyst initiations 6-05-07: ORBC, WRI and REG

Posted Jun 5th 2007 11:49AM by Eric Buscemi
Filed under: Analyst Reports, Analyst Initiations

MOST NOTEWORTHY: ORBComm Inc (NASDAQ: ORBC), Weingarten Realty Investors (NYSE: WRI) and Regency Centers Corporation (NYSE: REG) were today's noteworthy initiations:

ORBComm was initiated with a Market Perform rating and $16 target at Piper Jaffray, as the firm believes the company may need to launch at least 25 satellites over the next few years to continue servicing its existing subscribers, which could lead to further losses. The company was initiated with an Outperform rating at Raymond James.
Baird initiated Weingarten Realty with an Outperform rating and $56 target due to its strategy to accelerate growth and initiated Regency Realty with a Neutral rating and $88 target citing valuation and lack of catalysts.

OTHER INITIATIONS:

OceanFreight Inc (NASDAQ: OCNF) was initiated with a Buy rating and $24 target at Cantor.
UBS initiated shares of Ocean Power Technologies Inc (NASDAQ: OPTT) with a Buy rating and $20 target and shares of Omega Healthcare Investors Inc (NYSE: OHI) with a Neutral rating and $18 target.
Shutterfly Inc (NASDAQ: SFLY) was initiated at JMP Securities with a Strong Buy rating and $25 target.
Corn Products International Inc (NYSE: CPO) was initiated with a Buy rating and $48 target at BB&T Capital Mkts, as the firm believes CPO will be able to generate strong earnings growth, as well as use its strong cash flow to grow its specialty ingredients business, raise its dividend, use for a share repurchase or a combination of the above.