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: