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Analyst initiations 6-13-07: BDK, DKS, FO and NOK

MOST NOTEWORTHY: This morning's noteworthy initiations included Nokia Corp (NOK), Fortune Brands, Inc (FO), Whirlpool Corp (WHR), Dick's Sporting Goods, Inc (DKS), Kona Grill, Inc (KONA):
  • JP Morgan started Nokia Corp (NYSE: NOK) with an Overweight rating, believing the handset market is strong and expects gross profits to rise in 2007.
  • Soleil wants to wait on the sidelines of Fortune Brands Inc (NYSE: FO), initiating shares with a Neutral rating, given the potential acquisition of Sweden's V&S Group along with the softness in the home and hardware segment.
  • Soleil also started Whirlpool Corp (NYSE: WHR) with a Hold rating based on valuation, which they believe reflects the company's outlook through 2009.
  • Nollenberger expects Dick's Sporting Goods (NYSE: DKS) will continue to outperform its peers, starting shares off with a Buy rating, and believes the recent pullback provides a compelling buying opportunity.
  • KeyBanc is positive on Kona Grill's (NASDAQ: KONA) differentiated brand, compelling unit economics, positive SSS opportunity and growth, starting shares with a Buy rating...
OTHER INITIATIONS:
  • Ceva, Inc (NASDAQ: CEVA) was initiated at CIBC with a Sector Outperform rating.
  • Black & Decker Corp (NYSE: BDK) and Briggs & Stratton Corp (BGG) were initiated with Hold ratings at Soleil.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

IPO & secondary preview: week of Feb. 19, 2007

Wall Street's equity market offers a very light schedule next week, with just three Secondaries on the docket.

Those deals tentatively scheduled to price include:

IPOs:


No IPOs scheduled.

Secondaries:

Thursday

Burger King Holdings, Inc. (NYSE:BKC),
a 20M-share Secondary for this international fast food chain. JP Morgan Chase, Goldman Sachs & Morgan Stanley are the lead managers.


Friday

Aviza Technology Inc. (NASDAQ:AVZA), a 4M-share Secondary for this semiconductor manufacturer. Needham & Co. is the lead manager.

MVC Capital (NYSE:MVC),
a 5M-share Secondary for this business financing operation. UBS Investment & Bear Stearns are the lead managers.

For the latest market intelligence on IPOs, Syndicate, and after-market trades, check out TheFLY Syndicate at www.theflyonthewall.com. [Subscription required.]

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Last updated: February 13, 2012: 05:58 PM

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