Analyst initiations: MNOV, RIG and LII

MOST NOTEWORTHY: MedicNova, Transocean and Lennox were today's noteworthy initiations:

Rodman & Renshaw is positive on MedicNova's (NASDAQ:MNOV) two primary products in development: MN-221, for the treatment of severe asthma and MN-166, an oral treatment for multiple sclerosis. The firm is also positive on MNOV's valuation; shares were initiated with an Outperform rating and $9 target.
Transocean (NYSE:RIG) is UBS's Top Pick as they believe it is the primary beneficiary of rising deepwater dayrates. Shares were assumed with a Buy rating and $201 target.
Suntrust initiated Lennox (NYSE:LII) with a Neutral rating and cites near-term visibility.

OTHER INITIATIONS:

Dean Foods (NYSE:DF) was initiated with an Outperform rating and $29 target.
Goldman started Parker-Hannifin (NYSE:PH) with a Neutral rating and $92 target.
UBS assumed Hercules Offshore (NASDAQ:HERO) and Pride International (NYSE:PDE) with Neutral ratings and targets of $35 and $49, respectively.