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MOST NOTEWORTHY: Monogram Biosciences, Interpublic Group and Blue Coat Systems were today's noteworthy initiations:
- JMP Securities said Monogram Biosciences (NASDAQ: MGRM) has a broad platform enabling it to develop multiple personalized medicine product offerings and has significant growth prospects from its HIV diagnostic business and its diagnostic test in oncology. Shares were initiated with an Outperform rating and $3.50 target.
- Jefferies assumed Interpublic Group (NYSE: IPG) with a Buy rating and $11 target. The firm believes the current valuation does not reflect the company's turnaround, which they believe is gaining traction.
- Friedman Billings initiated Blue Coat Systems (NASDAQ: BCSI) with a Market Perform rating and $18 target. The firm prefers to wait on the sidelines given the near-term headwinds from a difficult spending environment in North America and integration risks from the Packeteer acquisition.
OTHER INITIATIONS:
- American Capital (NASDAQ: AGNC) was initiated at Merrill with a Buy rating and at RBC Capital with an Outperform rating and $32 target.
- UBS assumed Quality Systems (NASDAQ: QSII) with a Buy rating and $39 target.
- HSBC initiated Daimler AG (NYSE: DAI) with an Overweight rating.
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