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MOST NOTEWORTHY: Allied Capital, ZIX Corp and Staples were today's noteworthy initiations:
- Oppenheimer believes Allied Capital's (NYSE:ALD) dividend is sustainable and that the equity portion of its portfolio will drive outsized returns once market conditions return to normalcy. Shares were initiated with a Perform rating.
- ThinkPanmure believes ZIX Corp (NASDAQ:ZIXI) has a large opportunity in e-prescribing encryption market, with a potential catalyst being the E-MEDS bill. The firm started shares with a Buy rating and $4.50 target.
- Banc of America reinstated its Buy rating on Staples (NASDAQ:SPLS) following the Corporate Express (NYSE:CXP) deal, which it views as a positive catalyst for the stock. The firm has a $29 target on the stock.
OTHER INITIATIONS:
- Newmont Mining (NYSE:NEM) was initiated at Thomas Weisel with an Overweight rating and $62 target.
- Stephens assumed Wabash (NYSE:WNC) with an Equal Weight rating and $10 target.
- Compass Diversified Trust (NASDAQ:CODI) was initiated with a Sector Perform rating and $14 target at RBC Capital.
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