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MOST NOTEWORTHY: Nova BioSource, Aventine Renewable and the REIT Sector were today's noteworthy initiations:
- ThinkPanmure believes Nova BioSource's (AMEX:NBF) biodiesal production process is economically superior to traditional processes but higher feedstock costs will make scaling difficult. Shares were initiated with an Accumulate rating.
- ThinkPanmure also initiated Aventine Renewable (NYSE:AVR) with an Accumulate rating and $8 target. The firm does not expect share upside until margin visibility improves, which will not occur until next year's corn crop materializes in early 2009.
- Lehman initiated the REIT sector with a Neutral rating; the firm started AMB Property (NYSE:AMB) and Kimco Realty (NYSE:KIM) with Overweight ratings and CBL & Associates (CBL) with an Underweight rating.
OTHER INITIATIONS:
Before the bell: Wall Street headed higher; automakers, retailers in focus
Waiting for the other shoe to drop: The looming credit crisis
Bet on T&A with J&J (JNJ)
