Analyst initiations: ATML, SWKS, ALU, PRXL and MAPP

MOST NOTEWORTHY: Atmel, Skyworks, Alcatel-Lucent, Parexel and Map Pharma were today's noteworthy initiations:

Kaufman Bros. initiated Atmel (NASDAQ: ATML) with a Buy rating and $6 target, as they believe the company's increasing focus around its core microcontroller business can drive an improved growth and profitability profile going forward and would be buyers at current levels.
The firm also started shares of Skyworks (NASDAQ: SWKS) with a Buy rating and a $10 target, as they like the company's balanced customer positioning and find the stock attractively valued at current levels.
JP Morgan initiated Alcatel-Lucent (NYSE: ALU) with an Overweight rating and believes the risks are more than fully priced into shares at current levels.
Parexel (NADSAQ: PRXL) was initiated with a Neutral rating at Broadpoint, as they believe the company's improved execution is already priced into shares.
Deutsche Bank finds shares of Map Pharmaceuticals (NASDAQ: MAPP) attractively valued given the opportunity from the company's two late stage product candidates, UDB and Tempo Migraine. The firm started shares off with a Buy rating and $19 target.

OTHER INITIATIONS:

Wachovia initiated coverage of leisure stocks, starting shares of Carnival (NYSE: CCL), Cedar Fair (NYSE: FUN) and Royal Caribbean (NYSE: RCL) with Outperform ratings.
Credit Suisse initiated PepsiCo (NYSE: PEP) and Coca-Cola (NYSE: KO) with Outperform ratings and targets of $87 and $68, respectively.