Analyst inititations: FREE, NKTR, ALTU and ABH
Posted Nov 9th 2007 11:20AM by Eric Buscemi
Filed under: Analyst reports, Under Armour'A' (UA), Analyst initiations, PetroChina Co Ltd ADR (PTR)
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MOST NOTEWORTHY: FreeSeas, Nektar, Altus Pharmaceuticals and AbitibiBowater were today's noteworthy initiations:
- Cantor initiated shares of FreeSeas (NASDAQ: FREE) with a Buy rating and $10 target, as they expect the company to benefit from the continued strength in the dry bulk market.
- JP Morgan resumed coverage of Nektar (NASDAQ: NKTR) with an Overweight rating, as they view weakness from the discontinuation of Exubera as a buying opportunity given the company's base royalty business and pipeline opportunities.
- Altus Pharmaceuticals (NASDAQ: ALTU) was initiated with a Buy rating and $19 target at Jefferies. The firm expects news flow from the company's two lead products over the next 6-12 months that should act as catalysts.
- AbitibiBowater (NYSE: ABH) was initiated with a Sell rating and $18 target at Banc of America, as they are cautious on newsprint trends; the firm recommends reducing existing positions.
OTHER INITIATIONS:
Tags: abh, abitibibowater, altu, altus, analyst, collective brands, CollectiveBrands, free, freeseas, initiation, nektar, nktr, patriot coal, PatriotCoal, pcx, petrochina, pss, ptr, ua, under armour, UnderArmour
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