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MOST NOTEWORTHY: Best Buy, Circuit City and FTI Consulting were today's noteworthy initiations:
- Best Buy (NYSE:BBY) and Circuit City (NYSE:CC) were initiated with Hold ratings and a $45-$47 and $3.50-$4.50 target, respectively, at Jefferies. The firm expects shares to be range bound as the company struggles with its turnaround and investor concerns about pressure on big ticket consumer purchases persists.
- FTI Consulting (NYSE:FCN) was initiated with an Outperform at William Blair. The firm believes the company is well-positioned in the high-growth derivatives market and has attractive financial characteristics.
OTHER INITIATIONS:
- Thomas Weisel started Micrel (NASDAQ:MCRL) with an Overweight rating and $9 target.
- Ceva (NASDAQ:CEVA) was started with an Outperform rating and $13 target at RBC Capital.
- Verisign (NASDAQ:VRSN) was initiated with a Hold rating and $35 target at Stifel.
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