Analyst initiations: SPR, G and SEIC

MOST NOTEWORTHY: Spirit Aerosystems, Genpact and SEI Investments were today's noteworthy initiations:

Friedman Billings believes Spirit Aerosystems (NYSE: SPR) is well-positioned on key aircraft platforms and has significant revenue visibility. The firm started shares with an Outperform rating and $33 target.
Baird is positive on Genpact's (NYSE: G) recurring, non-discretionary revenue, strong growth in Global Client revenue, market leading position; shares were assumed with an Outperform rating and $16 target.
SEI Investments (NASDAQ: SEIC) was initiated with a Market Perform rating and $27 target at Keefe Bruyette, as they are cautious in the near-term due to industry headwinds.

OTHER INITIATIONS:

Merrill Lynch initiated Sirius Satellite (NASDAQ: SIRI) with a Sell rating.
Lehman started Tiffany & Co (NYSE: TIF) with an Overweight rating and $52 target.
Oppenheimer initiated Cavium Networks (NASDAQ: CAVM) with a Perform rating.