Analyst initiations: Advanced Analogic, Navios Maritime, Lockheed Martin

MOST NOTEWORTHY: Advanced Analogic, Navios Maritime and Lockheed Martin were today's noteworthy initiations:

JMP Securities started shares of Advanced Analogic (NASDAQ: AATI) with a Market Outperform rating and $13 target, as they are positive on AATI's increasing margins driven by proprietary portable power management designs and cost-effective manufacturing technology.
Cantor assumed coverage of Navios Maritime (NYSE: NMM) with a Buy rating and $21 target and believes the company's focus on long-term charter contracts and substantially fixed operating costs helps provide clear earnings visibility to support its dividend policy.
American Technology views Lockheed Martin (NYSE: LMT) as a compelling long-term investment opportunity given the overall predictability of the sector and an attractive valuation. The firm initiated shares with a Buy rating and $129 target.

OTHER INITIATIONS:

Morgan Stanley initiated SuccessFactors (NASDAQ: SFSF) with an Overweight rating.
Cowen initiated Liz Claiborne (NYSE: LIZ) with a Neutral rating and Polo Ralph Lauren (NYSE: RL) with an Outperform rating.

Tags: AATI, initiations, LIZ, LMT, NMM, RL, SFSF