Analyst initiations: LULU, NAVI, RIMM, PALM and MOT

Posted Sep 26th 2007 11:30AM by Eric Buscemi
Filed under: Analyst Reports, Motorola (MOT), Whole Foods Market (WFMI), Research in Motion (RIMM), Palm Inc (PALM), Analyst Initiations

MOST NOTEWORTHY: Lululemon, NaviSite, Research in Motion, Palm and Motorola were today's noteworthy initiations:

Lululemon Athletica (NASDAQ: LULU) was initiated with a Neutral rating and $42 target at Credit Suisse on valuation.
NaviSite Inc (NASDAQ: NAVI) was initiated with a Buy rating at Merriman after reporting solid Q4 results. Merriman expects the company's recent acquisitions to significantly increase margins.
Citigroup believes Research in Motion Limited (NASDAQ: RIMM) is not a pure momentum stock as fundamentals are driving share appreciation. They think the company's subscriber growth is beginning to hit critical mass and expect 15M subscribers within 12 months. The firm started shares with a Buy rating and $115 target.
Citigroup also initiated shares of Palm Inc (NASDAQ: PALM) with a Sell rating and $13.50 target, expecting the company's market share losses to continue to EPS to decline.
Citigroup started Motorola Inc (NYSE: MOT) with a Hold rating and $20 target, as they believe its recovery may take longer than expected, noting its new silicon platform does not come out until 2H08.

OTHER INITIATIONS:

Banc of America initiated On Semiconductor (NASDAQ: ONNN), Mettler-Toledo International Inc (NYSE: MTD) and Thermo Fisher Scientific Inc (NYSE: TMO) with Buy ratings and a $16 target, $120 target and $65 target.
Deutsche Bank started GSI Commerce Inc (NASDAQ: GSIC) and Universal Electronics (NASDAQ: UEIC) with Buy ratings and targets of $52 and $31, respectively.
RBC Capital Markets resumed coverage of Whole Foods Market Inc (NASDAQ: WFMI) with an Outperform rating and $55 target.

Tags: analyst, gsi commerce, gsic, GsiCommerce, initiation, lulu, lululemon, mettler-toledo, mot, motorola, mtd, navi, navisite, on semi, onnn, OnSemi, palm, research in motion, ResearchInMotion, rimm, thermo fisher, ThermoFisher, tmo, ueic, universal electronics, UniversalElectronics, wfmi, whole foods, WholeFoods

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Reader Comments (Page 1 of 1)

9-26-2007 @ 11:55AM

Katie said...

What ever happened to those rumors that Research in Motion was up for sale? Microsoft and Motorola were supposed to be interested parties (see article from NewsVisual: http://www.newsvisual.com/newsvisual/2007/08/rim-and-microso.html ). The executive connections between the companies seem pretty significant- anybody have any further news about this?