Analyst initiations: EFII, FNDT and VIAP

MOST NOTEWORTHY: Electronics for Imaging, Fundtech and VIA Pharmaceuticals were today's noteworthy initiations:

Banc of America initiated Electronics for Imaging (NASDAQ: EFII) with a Buy rating and $26.50 target, as it sees leverage potential in 2008 from cost reductions and revenue mix and believes stronger controller revenue mix and ink from inkjets could help gross margin in 2H08.
JMP Securities expects Fundtech (NASDAQ: FNDT) to benefit from an upgrade cycle among large banks to improve their payment systems, starting shares off with a Market Outperform rating and $19 target.
Rodman & Renshaw resumed coverage of VIA Pharmaceuticals (NASDAQ: VIAP) with an Outperform rating and $4 target. The firm expects VIAP's VIA-2291, a treatment for Antherosclerosis, Ph II data expected in mid-2008 to drive shares.

OTHER INITIATIONS:

Oppenheimer initiated Ardea Biosciences (NASDAQ: RDEA) with a Buy rating and $15 target.
SAP AG (NASDAQ: SAP) was initiated with an Equal Weight rating at Lehman.
CIBC resumed coverage of Limelight Networks (NASDAQ: LLNW) with a Sector Outperformer rating.