Analyst initiations: TGH, CRNT, TESO, CML and FLY

Posted Nov 19th 2007 11:35AM by Eric Buscemi

MOST NOTEWORTHY: Textainer, Ceragon Networks, Tesco, Compellent Tech and Babcock & Brown were today's noteworthy initiations:

Jefferies believes demand for containers will continue to be driven by the migration of manufacturing to emerging markets and that Textainer (NYSE: TGH) is well positioned to take advantage of this trend. The firm started shares off with a Buy rating and $18 target. Piper believes the world's largest company in the global container leasing industry is attractively priced at current levels and resumed coverage of Textainer with a Buy rating and $21 target. Credit Suisse initiated shares with an Outperform rating and $18 target.
Jefferies also initiated Ceragon Networks (NASDAQ: CRNT) with a Buy rating and $17 target, as they believe the company is a primary beneficiary of increased spending in wireless backhaul. Banc of America believes Ceragon is positioned to benefit from increased wireless traffic growth and started shares with a Buy rating and $18 target.
Friedman Billings started shares of Tesco (NASDAQ: TESO) with an Outperform rating and $37 target, citing growth from potentially revolutionary drilling techniques and larger international launch footprint.
Compellent Tech (NYSE: CML) was initiated with a Buy rating and $17 target at Piper, which estimated the company will grow revenue 50%+ year/year through FY09.
Babcock & Brown (NYSE: FLY) was initiated with a Buy rating and $28.60 target at Citigroup, which pointed to the company's attractive dividend yield and growth characteristics.

OTHER INITIATIONS:

Duff & Phelps (NYSE: DUF) was initiated with a Neutral rating at UBS and a Market Perform rating and $23 target at Keefe Bruyette.
Actuant (NYSE: ATU) was initiated with a Buy rating and $36 target at Keybanc.
Susquehanna initiated Regeneration Tech (NASDAQ: RTIX) with a Positive rating.