Analyst initiations: DSX, AVNX and FSIN

MOST NOTEWORTHY: Diana Shipping, Avanex and Fushi International were today's noteworthy initiations:

Stephens believes Diana Shipping's (NYSE: DSX) current share price represents an attractive entry point for investors. Shares were started with an Overweight rating and $40 target.
Avanex (NASDAQ: AVNX) was initiated with a Buy rating at Merriman. The firm believes the recovery in optical that began in late 2005 is in a relatively early stage and that new product introductions and strong optical trends will drive growth and leverage.
Jefferies assumed coverage of Fushi International (NASDAQ: FSIN) with a Buy rating and $20 target and believes the telecom infrastructure build-out in emerging markets, particularly China, and high copper prices continue to create opportunities for the company.

OTHER INITIATIONS:

Mattel (NYSE: MAT) was assumed at Caris with an Above Average rating and $25 target.
Lehman initiated Garmin (NASDAQ: GRMN) with an Equal Weight rating.
Keefe Bruyette initiated Invesco (NYSE: IVZ) with an Outperform ratin gand $28 target.

Tags: analyst, avanex, avnx, diana shipping, DianaShipping, dsx, fsin, fushi, garmin, grmn, initiation, invesco, ivz, mat, mattel