Analyst initiations: SMBL, HOO and ASH

Posted Mar 10th 2008 11:56AM by Eric Buscemi
Filed under: Analyst Reports, Analyst Initiations

MOST NOTEWORTHY: Smart Balance, Cascal NV and Ashland were today's noteworthy initiations:

Citigroup initiated Smart Balance (NASDAQ: SMBL) with a Hold rating and $9 target, as they believe success of the company's new products is not a foregone conclusion and prefers to wait for increased visibility before becoming more positive on the name.
JP Morgan believes Cascal NV (NYSE: HOO) will leverage its global scale and expertise in water infrastructure markets to drive 25% annual EPS growth through 2010. The firm has an Overweight rating on the stock.
Ashland (NYSE: ASH) was started with a Positive rating as Susquehanna, as they are positive on ASH's earnings power. The firm views shares as a compelling risk/reward opportunity.

OTHER INITIATIONS:

Broadpoint assumed SuccessFactors (NASDAQ: SFSF) with a Strong Buy rating and $12 target.
Morgan Stanley initiated Fastenal (NASDAQ: FAST) with an Equal Weight rating and $40 target.
RBC Capital started Ultra Petroleum (NYSE: UPL) with a Sector Perform rating and $80 target.

Tags: analyst, ash, ashland, cascal, fast, fastenal, hoo, initiation, sfsf, smart balance, SmartBalance, smbl, successfactors, ultra petroleum, UltraPetroleum, upl