Analyst initiations: ARIA, FNB and FO

Posted Dec 14th 2007 10:58AM by Eric Buscemi
Filed under: Analyst initiations

MOST NOTEWORTHY: Ariad Pharma, FNB Corp. and Fortune Brands were today's noteworthy initiations:

Jefferies finds Ariad Pharma (NASDAQ:ARIA) compelling as they believe the market potential for deforolimus in cancer is being underappreciated. Jeffieries initiated Ariad with a Buy rating and $8 target.
B. Riley assumed coverage of FNB Corp. NYSE:FNB) with a Neutral rating and $15 target and sees limited viable lending opportunities in the current economic environment.
Wachovia initiated Fortune Brands (NYSE:FO) with an Outperform rating and is positive on the company's position in Spirits. The firm believes its Home business is weighted towards the less cyclical remodels business.

OTHER INITIATIONS:

William Blair initiated Smart Balance (NASDAQ:SMBL) with a Market Perform rating.
Wachovia started PepsiCo (NYSE:PEP) and Anheuser-Busch (NYSE:BUD) with Market Perform ratings.

Tags: analyst initaitions, AnalystInitaitions, ARIA, BUD, FNB, FO, PEP, SMBL

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