MOST NOTEWORTHY: PHH Corp., VF Corp. and Dialysis Corp. of America were today's noteworthy initiations:
- PHH Corp (PHH) was initiated with an Outperform rating and $25 target at Keefe Bruyette. The firm finds the stock inexpensive at current levels and believes the company's management team is strong and mortgage operations are improving.
- Baird is positive on VF Corp's (VFC) sales and EPS growth, brand portfolio strength, and global distribution opportunities. Shares were assumed with an Outperform rating and $90 target.
- Stanford started Dialysis Corp of America (DCAI) with a Buy rating and $10 target and believes the company is worth more to a strategic buyer, which they feel could drive revenue per treatment and margins higher.
OTHER INITIATIONS:
- Merrill initiated Sherwin-Williams (SHW) with an Underperform rating.
- Vail Resorts (MTN) was assumed with a Buy rating and $59 target at Banc of America.
- Goldman started Patterson-UTI Energy (PTEN) with a Neutral rating and $35 target.
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