MOST NOTEWORTHY: Marvel Entertainment, Macrovision and K-Sea Trans were today's noteworthy initiations:
- Thomas Weisel initiated Marvel Entertainment (NYSE: MVL) with a Market Weight rating and $34 target citing valuation and lack of meaningful operational catalysts until 2010.
- Kaufman Bros. assumed Macrovision (NASDAQ: MVSN) with a Buy rating and $27 target. The firm believes the merger with Gemstar TV Guide creates a powerhouse in digital media technology licensing with a compelling financial model.
- Wachovia expects K-Sea Trans (NYSE: KSP) to benefit from stable petroleum product demand, longer-term contracts, and aggressive new building program. Shares were started with an Outperform rating.
OTHER INITIATIONS:
- Safe Bulkers (NYSE: SB) was initiated with a Neutral rating at Merrill Lynch and an Outperform rating and $25 target at Credit Suisse.
- Stephens initiated Life Time Fitness (NYSE: LTM) with an Overweight rating and $37 target and Town Sports (NASDAQ: CLUB) with an Equal Weight rating and $10 target.
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