Analyst initiations: SanDisk, Edison International, Animal Health International

MOST NOTEWORTHY: Edison International, Animal Health International and SanDisk were today's noteworthy initiations:

RBC Capital initiated Edison International (NYSE: EIX) with an Outperform rating and $64 target citing strong rate base growth and the favorable environment at Southern California Edison.
Piper assumed coverage of Animal Health International (NASDAQ: AHII) with a Buy rating and $10 target, as they believe the current valuation is attractive from long-term investors.
Pacific Crest started SanDisk (NASDAQ: SNDK) with a Sector Perform rating and believes the valuation is too high following the recent strength as product margins are trending down.

OTHER INITIATIONS:

Sandler initiated Heritage Commerce (NASDAQ: HTBK) with a Hold rating and $16 target.
Burger King (NYSE: BKC) was initiated with a Buy rating and $34 target at Piper.
RBC Capital assumed U.S. Geothermal (AMEX: HTM) with an Outperform rating and $4 target.

Tags: ahii, analyst, animal health, AnimalHealth, bkc, burger king, BurgerKing, edison international, EdisonInternational, eix, heritage commerce, HeritageCommerce, htbk, htm, initiation, sandisk, sndk, us geothermal, UsGeothermal