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MOST NOTEWORTHY: Greenfield Online, Simpson Manufacturing and Cooper Industries were today's noteworthy initiations:
- Merriman assumed coverage of Greenfield Online (NASDAQ:SRVY) with a Buy rating. The firm's sum-of-parts valuation implies 50% upside to the stock and they believe the current valuation does not reflect the fast growing, high margin Comparison Shopping segment.
- CIBC initiated Simpson Manufacturing (NYSE:SSD) with a Sector Performer rating and sees near-term earnings risk given the company's exposure to the U.S. housing market.
- Cooper Industries (NYSE:CBE) was initiated at UBS with a Buy rating and $58 target. The firm expects Cooper to benefit from positive secular trends in energy efficiency and infrastructure investment.
OTHER INITIATIONS:
- Baird initiated Large/Mid-Cap Banks with an Evenweight view, starting Comerica (NYSE:CMA) and PNC Financial (NYSE:PNC) with Outperform ratings and a $50 target and $75 target, respectively.
- Wachovia started Henry Jack & Associates (NASDAQ:JKHY) with a Market Perform rating.
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