Analyst initiations: Engineering and construction sector, SRE, LNG and HOKU

Posted Nov 13th 2007 11:40AM by Eric Buscemi
Filed under: Analyst Reports, Analyst Initiations

MOST NOTEWORTHY: The engineering and construction sector, Sempra Energy, Cheniere Energy and Hoku Scientific were today's noteworthy initiations:

BMO Capital initiated Chicago Bridge & Iron Company (NYSE: CBI), URS Corporation (NYSE: URS) and Granite Construction (NYSE: GVA) with Outperform ratings.
Banc of America believes Sempra Energy's (NYSE: SRE) long-term growth projects can drive EPS CAGR of 7-8% through 2011 and they find the stock compelling despite the recent rally. The firm started shares off with a Buy rating and $72 target.
Banc of America also initiated Cheniere Energy (AMEX: LNG) with a Buy rating and $50 target, as they expect the company will be the low-cost service provider in the North American liquefied natural gas market with ideal locations along the Gulf Coast.
Broadpoint resumed coverage of Hoku Scientific (NASDAQ: HOKU) with a Buy rating, and views the company as a speculative play with a high risk/reward.

OTHER INITIATIONS:

ThinkEquity started shares of CNet Networks (NASDAQ: CNET) with a Source of Funds rating and $7 target.
KeyBanc initiated CommVault Systems (NASDAQ: CVLT) with a Buy rating and $23 target and Sybase (NYSE: SY) with a Hold rating.

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