Analyst initiations: LFT, RBS and WHQ

Posted Dec 4th 2007 11:14AM by Eric Buscemi
Filed under: Analyst Initiations

MOST NOTEWORTHY: Longtop Financial, Royal Bank of Scotland and W-H Energy Services were today's noteworthy initiations:

Jefferies initiated Longtop Financial (NYSE:LFT) with a Buy rating and $29 target, as they expect strong earnings growth over the next several years from an acceleration in P&L performance and the company's attractive secular demand backdrop.
Morgan Stanley resumed coverage of Royal Bank of Scotland (NYSE:RBS) with an Underweight rating, as they believe investors will begin to question the sustainability of the company's dividend as earnings fall.
Oppenheimer views the outlook for W-H Energy Services (NYSE:WHQ) as compelling given its geographic expansion, international growth prospects, technological focus, and strong balance sheet. The firm started shares with a Buy rating and $73 target..

OTHER INITIATIONS:

HSBC initiated Diageo (NYSE:DEO) with an Overweight rating.
Banc of America resumed coverage of the softlines retailing sector, starting shares of Urban Outfitters (NASDAQ:URBN) and Pacific Sunwear (NADAQ:PSUN) with Buy ratings and a $32 target and $20 target, and Aeropostale (NYSE:ARO) with a Neutral rating.