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MOST NOTEWORTHY: CTC Media, Callidus Software and Seattle Genetics were today's noteworthy initiations:
- Merrill initiated CTC Media (NASDAQ: CTCM) with a Buy rating, citing the company's healthy ad growth outlook and substantial barriers to entry.
- B. Riley initiated Callidus Software (NASDAQ: CALD) with a Buy rating and $7 target and believes the company's growing On-Demand offering is being overlooked by investors.
- Seattle Genetics (NASDAQ: SGEN) was assumed with an Overweight rating at JP Morgan. The firm views the company as an attractive investment opportunity given the company's growing pipeline of differentiated antibody therapies and partnership with Genentech (NYSE: DNA).
OTHER INITIATIONS:
- Cowen initiated Boston Scientific (NYSE: BSX) with a Neutral rating and St. Jude Medical (NYSE: STJ) with an Outperform rating.
- Lehman initiated UDR Inc (NYSE: UDR) with an Equal Weight rating.
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