Analyst initiations: KCAP, CKSW and LRY

MOST NOTEWORTHY: Kohlberg Capital, ClickSoftware and Liberty Property Trust were today's noteworthy initiations:

JMP Securities started shares of Kohlberg Capital (NASDAQ: KCAP) with an Outperform rating and $14 target. The firm believes Kohlberg Capital's alliance with Kohlberg and Company allows Kohlberg Capital to take advantage of considerable expertise. JMP Securities believes Kohlberg Capital has an attractive risk/reward ratio.
Roth Capital initiated ClickSoftware (NASDAQ: CKSW) with a Hold rating and $3.60 target and expects EPS pressure from the depreciating dollar near-term.
Liberty Property Trust (NYSE: LRY) was initiated with a Hold rating at Stifel, citing lack of internal earnings divers and fair valuation.

OTHER INITIATIONS:

Oppenheimer initiated VisionChina Media (NASDAQ: VISN) with a Perform rating and $25 target.
Merrill assumed MGM Mirage (NYSE: MGM) with a Neutral rating.
Morgan Stanley started BJ's Wholesale (NYSE: BJ) and Costco (NASDAQ: COST) with Equal Weight ratings.