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MOST NOTEWORTHY: Illinois Tool Works, Perficient and GATX were today's noteworthy initiations:
- Illinois Tool Works (NYSE: ITW) was initiated with a Neutral rating and $59 target at Banc of America, as they believe the challenging macro environment and tougher international comparisons will impact near-term base revenue growth and margin opportunities.
- JMP Securities believes shares of Perficient Inc. (NASDAQ: PRFT) have overreacted to weak 2007 organic growth and expects shares to be driven by an acceleration in growth in combination with accretive acquisitions. The firm initiated Perficient with a Market Outperform rating and $20 target.
- GATX Corp. (NYSE: GMT) was initiated with a Neutral rating at SunTrust on valuation.
OTHER INITIATIONS:
- Credit Suisse initiated Bank of America with a Neutral rating and $48 target and Wachovia Corp. (NYSE: WB) with an Underperform rating and $35 target.
- Goldman initiated Bank of New York (NYSE: BK) with a Neutral rating.
- Morgan Stanley started WESCO International (NYSE: WCC) with an Equal Weight rating.
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