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MOST NOTEWORTHY: UCN Inc, Astronics and SunTrust Banks were today's noteworthy initiations:
- Merriman expects UCN Inc (NASDAQ: UCNN) to further expand its contact center product set and believes it is likely to be sold to a larger provider expanding within the hosted contact solution market over the longer term. The firm started shares with a Buy rating.
- Jesup & Lamont initiated Astronics (NASDAQ: ATRO) with a Neutral rating. The firm wants to see a change in the backlog visibility and more clarity on the ramp-up schedules of some new programs. For now, they view shares as fairly valued.
- Friedman Billings resumed coverage of SunTrust Banks (NYSE: STI) with an Underperform rating and $37 target and cites credit deterioration and uncertainty regarding credit costs.
OTHER INITIATIONS:
- Whiting Petroleum (NYSE: WLL) was initiated at Wachovia with an Outperform rating.
- Morgan Stanley assumed Imperial Tobacco (NYSE: ITY) with an Overweight rating.
- Suncor (NYSE: SU) was started with an Outperform rating and $80 target at RBC Capital.
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