Analyst initiations: PSYS, HGG and ULTA

Posted Jul 23rd 2008 11:36AM by Eric Buscemi
Filed under: Analyst Reports, Analyst Initiations

MOST NOTEWORTHY: Psychiatric Solutions, hhgregg and Ulta Salon were today's noteworthy initiations:

Stanford started Psychiatric Solutions (NASDAQ: PSYS) with a Buy rating and $46 target and believes the recent pullback provides an attractive entry point given the company's stable growth and fundamentally strong business.
Oppenheimer initiated hhgregg (NYSE: HGG) with a Perform rating. The firm believes the company's TV business could become much more challenging while housing market weakness could continue to hinder appliance sales.
Oppenheimer also assumed Ulta Salon (NASDAQ: ULTA) with an Outperform rating and $13 target. The firm believes the company's fundamentals are solid and sees potential upside to valuation.

OTHER INITIATIONS:

Piper initiated Ormat Tech (NYSE: ORA) with a Neutral rating and $49 target and Raser Technologies (NYSE: RZ) with a Sell rating and $7 target.
The9 (NASDAQ: NCTY) was assumed at Roth Capital with a Hold rating and $27 target.
Masimo (NASDAQ: MASI) was initiated with an Outperform rating and $44 target at BMO Capital.