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MOST NOTEWORTHY: Lehman Brothers, Nokia and Intuitive Surgical were today's noteworthy initiations:
- Morgan Stanley initiated Lehman Brothers (NYSE:LEH) with an Overweight rating and $31 target. The firm believes Lehman's discount to book value prices in significant write-downs.
- Bernstein believes Nokia (NYSE:NOK) will see a slowdown in demand for devices and could loss market share. Shares were initiated with an Underperform rating.
- Merriman assumed Intuitive Surgical (NASDAQ:ISRG) with a Neutral rating and believes the tightened credit markets could impact capital equipment spending for small and mid-sized hospitals. They find shares appropriately valued at current levels.
OTHER INITIATIONS:
- Terre Kaufman initiated Terremark Worldwide (NASDAQ:TMRK) with a Buy rating and $8 target.
- T-3 Energy (NASDAQ:TTES) was initiated at Jefferies with a Buy rating and $95 target.
- Adobe (NASDAQ:ADBE) was assumed with an Outperform rating and $48 target at Friedman Billings.
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