Analyst initiations: MU, CHS and LCUT

Posted Feb 15th 2008 11:18AM by Eric Buscemi
Filed under: Analyst Initiations

MOST NOTEWORTHY: Micron, Chico's FAS and Lifetime Brands were today's noteworthy initiations:

Oppenheimer assumed Micron (NYSE: MU) with an Outperform rating and $9.50 target, as they believe price declines in the DRAM market moderated in 2H of the December quarter and that concerns of oversupply are already priced into shares.
Stanford believes shares of Chico's FAS (NYSE: CHS) will remain under pressure over the next three to six months given the adverse economic conditions and the company's "less-than-exciting" fashion assortment. The firm started shares with a Hold rating and $10 target.
Lifetime Brands (NASDAQ: LCUT) was initiated with a Neutral rating at SunTrust. The firm prefers to wait for greater visibility on the U.S. consumer spending environment before becoming more constructive on the name.

OTHER INITIATIONS:

Soleil initiated Worthington (NYSE: WOR) with a Hold rating.
Jefferies started Esterline Technologies (NYSE: ESL) with a Buy rating and $58 target.
Oppenheimer assumed Spansion (NASDAQ: SPSN) with a Perform rating.

Tags: Chico's FAS, Chico'sFas, CHS, ESL, Esterline Technologies, EsterlineTechnologies, LCUT, Lifetime Brands, LifetimeBrands, Micron, MU, Spansion, SPSN, WOR, Worthington