Analyst initiations: SRS Labs, Tennant, Entergy

MOST NOTEWORTHY: SRS Labs, Tennant and Entergy were today's noteworthy initiations:

B. Riley initiated SRS Labs (NASDAQ: SRSL) with a Neutral rating and $7 target. The firm believes expectations for Q2 and FY08 may be high as the company ramps marketing spend in the face of difficult macro economic conditions.
Jefferies assumed Tennant (NYSE: TNC) with a Hold rating and $32 target which reflects their macro economic outlook for end markets in North America and Western Europe.
Wachovia is positive on Entergy's (NYSE: ETR) shareholder-friendly management, strong financial position, and leverage to favorable wholesale power market trends. Shares were initiated with an Outperform rating.

OTHER INITIATIONS:

ThinkPanmure initiated Knot Inc. (NASDAQ: KNOT) with a Source of Funds rating and $8 target.
Qualcomm (NASDAQ: QCOM) was started with a Buy rating and $61 target at Citigroup.
HSBC assumed Spreadtrum (NASDAQ: SPRD) with an Overweight rating.

Tags: ETR, KNOT, QCOM, SPRD, SRSL, TNC

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