Analyst initiations: NYB, GU and CEDC

MOST NOTEWORTHY: New York Community Bancorp, Gushan Environmental and Central European Distribution were today's noteworthy initiations:

Citigroup believes New York Community Bancorp (NYSE: NYB) is uniquely-positioned to benefit from the current operating environment and expects loan growth, NIM expansion, and good credit to boost EPS growth over the next year. The firm initiated shares with a Buy rating and $19 target.
Oppenheimer said Gushan Environmental (NYSE: GU) benefits from the Chinese government's policies encouraging growth of renewable fuels; shares were initiated with an Outperform rating and $14 target.
Jefferies initiated Central European Distribution (NASDAQ: CEDC) with a Buy rating and $66 target and views the company as a pure play on rising disposable incomes, particularly in Poland where it is headquartered.

OTHER INITIATIONS:

Lehman assumed Ciena (NASDAQ: CIEN) with an Overweight rating and $35 target.
BMO Capital started Millenium Pharma (NASDAQ: MLNM) with an Outperform rating and $18 target.
Keefe Bruyette started Meridian Interstate Bancorp (NASDAQ: EBSB) with an Outperform rating and $11.50 target.

Tags: analyst, cedc, cien, ciena, ebsb, gu, gushan, initiation, meridian, millenium, mlnm, nyb