Analyst initiations 8-31-07: STP, PCS and CRL

Posted Aug 31st 2007 11:20AM by Eric Buscemi
Filed under: Analyst Reports, Analyst Initiations

MOST NOTEWORTHY: Suntech Power (STP), MetroPCS (PCS), Micron Tech (MU) and Charles River Labs (CRL) were today's noteworthy initiations:

JP Morgan initiated shares of Suntech Power Holdings (NYSE: STP) with a Neutral rating, citing valuation. The firm prefers the stock to peers given the company's larger scale, solid supplier relationships and exposure to new technologies.
JP Morgan also started shares of MetroPCS Communications (NYSE: PCS) with a Neutral rating, as it likes the company's model, but sees greater upside in peers like Clearwire Corporation (NASDAQ: CLWR), Sprint Nextel Corporation (NYSE: S), Leap Wireless (NASDAQ: LEAP) and Rogers Communications (NYSE: RCI).
William Blair believes Charles River Labs (NYSE: CRL) is the best pure-play investment in preclinical development given its dominant franchise in animal disease models, and started shares with an Outperform rating.

OTHER INITIATIONS:

Gabelli initiated shares of Tenaris SA (NYSE: TS) with a Buy rating and $68 target.
RBC Capital started shares of Time Warner Cable (NYSE: TWC) with a Sector Perform rating and $39 target.
CDC Corporation (NASDAQ: CHINA) was started at ThinkEquity with a Buy rating and $11 target.
Suntrust started shares of Owens Corning (NYSE: OC) with a Neutral rating.