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Analyst initiations: FSLR, JASO, ALU, NOK and ERIC

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MOST NOTEWORTHY: First Solar, JA Solar, Alcatel-Lucent, Nokia and Ericsson were today's noteworthy initiations:
  • First Solar (NASDAQ: FSLR) and JA Solar Holdings (NASDAQ: JASO) were initiated with Buy ratings and targets of $160 and $61 at Collins Stewart. Collins Stewart sees room for margin expansion and is positive on First Solar after channel checks; the firm expects JA Solar to expand capacity given its long-term supply agreements with four wafer suppliers.
  • Merrill Lynch started shares of Alcatel-Lucent (NYSE: ALU) with a Sell rating, citing a lack of revenue growth prospects.
  • The firm also started shares of Nokia Corporation (NYSE: NOK) with a Buy rating, as they believe the company's share gains and margin expansion will continue.
  • Merrill also resumed coverage of Ericsson (NASDAQ: ERIC) with a Neutral rating, expecting high single digit earnings and share growth, but not enough for a Buy rating.
OTHER INITIATIONS:
Symbol Lookup
IndexesChangePrice
DJIA+44.2910,291.26
NASDAQ+15.822,166.90
S&P 500+5.501,098.51

Last updated: November 12, 2009: 03:22 AM

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