Analyst initiations: GPRO, MNST, LH and DGX

MOST NOTEWORTHY: Gen-Probe, Monster Worldwide, LabCorp and Quest Diagnostics were today's noteworthy initiations:

Deutsche Bank initiated shares of Gen-Probe (NASDAQ: GPRO) with a Buy rating and $78 target and expects the company's broad product portfolio in Clinical Diagnostics and Blood Screening to drive growth.
CIBC initiated Monster Worldwide (NASDAQ: MNST) with a Sector Performer rating, as they believe their macro concerns are more important than the company's intermediate-term prospects and its position within the global recruiting market.
William Blair views the valuation of LabCorp (NYSE: LH) as compelling given the company's growth outlook. The firm started shares off with an Outperform rating.
William Blair also initiated Quest Diagnostics (NYSE: DGX) with a Market Perform rating, and prefers a wait-and-see approach as the company's diversification strategy unfolds.

OTHER INITIATIONS:

Wachovia initiated Cleco (NYSE: CNL), ITC Holdings (NYSE: ITC) and Aqua America (NYSE: WTR) with Outperform ratings and American States Water (NYSE: AWR) with a Market Perform rating.
Baird resumed coverage of Ritchie Bros (NYSE: RBA) with a Neutral rating and $78 target.