Analyst initiations: TLEO, HTS and HLIT

Posted Jun 5th 2008 11:38AM by Eric Buscemi
Filed under: Analyst Reports, Analyst Initiations

MOST NOTEWORTHY: Taleo, Hatteras Financial and Harmonic were today's noteworthy initiations:

Baird initiated Taleo (NASDAQ:TLEO) with a Neutral citing uncertainty regarding the integration plan and financial guidance regarding the Vurv acquisition.
Wachovia believes Hatteras Financial (NYSE:HTS) is well-positioned to capitalize on opportunities in the Agency RMBS sector given the steep yield curve & slow mortgage payments, low expense structure, and Agency-only strategy. Shares were initiated with an Outperform rating.
Brean Murray expects Harmonic (NASDAQ:HLIT) to benefit from an increased competitive environment among cable, telco, and satellite operators and their need for encoding and video stream processing equipment. Shares were assumed with a Buy rating and $13 target.

OTHER INITIATIONS:

Jesup & Lamont initiated GP Strategies (NYSE:GPX) with a Buy rating and $12.50 target.
Norfolk Southern (NYSE:NSC) was initiated at BMO Capital with a Market Perform rating.
UBS assumed Genesis Energy (AMEX:GEL) with a Neutral rating and $22 target.

Tags: analyst initiations, AnalystInitiations, GEL, GPX, HLIT, HTS, NSC, TLEO