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MOST NOTEWORTHY: Ariba, Meredith Corp and Time Warner Telecom were today's noteworthy initiations:
- Montgomery initiated Ariba (NASDAQ: ARBA) with a Buy rating and $14 target and said ARBA's SaaS transition is essentially completed and that the benefits of higher cash flow, new sales hires, product releases, and new markets should be seen in FY08.
- Jefferies resumed coverage of Meredith Corp (NYSE: MDP) with a Hold rating and $59-$61 target and expects ad growth to slow given the current economic backdrop.
- Citigroup initiated Time Warner Telecom (NASDAQ: TWTC) with a Buy rating and $29 target. The named TWTC its top pick in the emerging telco sub-sector based on its differentiated niche position, strong fiber assets and sustainable revenue growth.
OTHER INITIATIONS:
- JP Morgan started Arcelor Mittal (NYSE: MT) and Daktronics (NASDAQ: DAKT) with Overweight ratings.
- Lehman started Transocean (NYSE: RIG) with an Overweight rating.
- Bear Stearns initiated StatoilHydro (NYSE: STO) with an Outperform rating.
- Credit Suisse initiated Colgate-Palmolive (NYSE: CL) with an Outperform rating and $87 target.
Nuclear power is on the comeback trail
Apple backs AT&T in continuing spat with Verizon
Closing Bell: The recession is still over, still... do you feel it?
Reader Comments (Page 1 of 1)
12-12-2007 @ 11:58AM
Nidhi said...
CL is looking good. I did some research and here it is:
Despite all the rate cuts many analysts are in bear camp, and they might be busy buying consumer companies with bigger revenues from outside the US. Because this will help them capitalize on weaker dollar and stronger world consumer market. One of the companies with improving volume and Relative strength is, Colgate-Palmolive.
More at: http://creating-wealth.blogspot.com/2007/12/colgate-palmolive-refuge-for-protection.html