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Analyst initiations: Restaurant sector, AMSC and FSLR

MOST NOTEWORTHY: The restaurant sector, American Semiconductor and First Solar were today's noteworthy initiations:
  • Friedman Billings resumed coverage of Cheesecake Factory (NASDAQ: CAKE) and Yum! Brands (NYSE: YUM) with Outperform ratings and a $30 target and a $46 target and Applebee's (NASDAQ: APPB) with a Market Perform rating and $25.50 target.
  • American Superconductor (NASDAQ: AMSC) was initiated with a Buy rating and $33 target at Jefferies, as they believe repeat orders for wind turbine electrical systems could drive rapid revenue growth from 2008-2010.
  • CIBC resumed coverage of First Solar (NASDAQ: FSLR) with a Sector Performer rating, as they believe shares are already pricing in the company's 2009 EPS potential.
OTHER INITIATIONS:
  • Morgan Stanley resumed coverage of Cablevision (NYSE: CVC) with an Underweight rating.
  • US Steel (NYSE: X) was initiated with a Sector Performer rating and $117 target at CIBC.
  • JP Morgan started SunPower (NASDAQ: SPWR) with an Overweight rating and Evergreen Solar (ESLR) with a Neutral rating.

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DJIA+29.398,178.48
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S&P 500+5.69821.90

Last updated: December 02, 2008: 02:34 PM

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