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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:
Why do we have a weak dollar?
Holiday hiring slow for retailers
Closing Bell: What sell-off? (AIG, ABK, EPR, MBI, JAVA, ORCL, ERTS)
