MOST NOTEWORTHY: Double Hull Tankers, Comverge and Cardica were today's noteworthy initiations:
- Double Hull Tankers (NYSE: DHT) was initiated with a Buy rating and $20 target at Jefferies, as they believe shares are attractively valued given the company's time charter contract coverage and upside potential through profit sharing arrangement.
- Broadpoint views Comverge (NASDAQ: COMV) as the industry leader in the high-growth demand response market. The firm assumed coverage with a Buy rating.
- Oppenheimer expects Cardica's (NASDAQ: CRDC) proximal device, which is awaiting FDA approval, to change cardiothoracic surgery and that adoption should be rapid. The firm initiated shares with a Buy rating and $11 target.
OTHER INITIATIONS:
- Bear Stearns started Brady Corp (NYSE: BRC) with a Neutral rating and $40 target.
- Bill Barrett (NYSE: BBG) was initiated with a Market Perform rating and Morgan Keegan.
- William Blair initiated LKQ (NASDAQ: LKQX) with a Market Perform rating.
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