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MOST NOTEWORTHY: HQ Sustainable Maritime, Wyndham and Cathay General Bancorp were today's noteworthy initiations:
- Cowen views HQ Sustainable Maritime (NYSE: HQS) as undervalued and a future winner in the "green economics" game. The firm started shares with an Outperform rating.
- JP Morgan initiated Wyndham (NYSE: WYN) with an Overweight rating. The firm finds the valuation attractive given the company's fee-based business model and attractive international growth opportunities.
- B. Riley assumed Cathay General Bancorp (NASDAQ: CATY) with a Buy rating and $16 target and believes the company's valuation discount to peers is unwarranted.
OTHER INITIATIONS:
- BGC Parnters (NASDAQ: BGCP) was initiated at Deutsche Bank with a Buy rating and $13 target.
- Friedman Billings initiated Maiden Holdings (NASDAQ: MHLD) with an Outperform rating and $11.50 target.
- Sandler assumed CRM Holdings (NASDAQ: CRMH) with a Buy rating and $6.50 target.
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