Analyst initiations: PSEM, STJ and CHINA

Posted Feb 28th 2008 11:52AM by Eric Buscemi
Filed under: Analyst Reports, Analyst Initiations

MOST NOTEWORTHY: Pericom, St. Jude Medical and CDC Corp were today's noteworthy initiations:

B. Riley believes Pericom (NASDAQ: PSEM) is in the early stages of a product cycle-driven growth and feels shares are significantly undervalued at current levels. The firm started shares with a Buy rating and $18 target.
Rodman & Renshaw started St. Jude Medical (NYSE: STJ) with a Market Outperform rating and $50 target. The firm is positive on St. Jude's recent investments in its CRM product portfolio and sales organization, which should increase competitiveness and facilitates continued market share gains.
CDC Corp (NASDAQ: CHINA) was initiated at Cantor with a Buy rating and $6 target, as they believe the stock is significantly undervalued due to the complexity of the company's corporate structure and poor financial disclosure. The firm believes this gap will close after the company lists at least one of its subsidiaries this year.

OTHER INITIATIONS:

Kevin Dann initiated Orion Marine Group (NASDAQ: OMGI) with a Buy rating and $18 target.
JP Morgan initiated Chimera Investment (NYSE: CIM) with a Neutral rating.
Credit Suisse started Perrigo Company (NASDAQ: PRGO) with a Neutral rating and $40 target.

Tags: analyst, cdc corp, CdcCorp, chimera, china, cim, initiation, omgi, orion, pericom, perrigo, prgo, psem, st jude, stj, StJude