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MOST NOTEWORTHY: The U.S. media sector, oil services, MercadoLibre and Horsehead Holdings were today's noteworthy initiations:
- Credit Suisse initiated coverage of the U.S. media sector with a Market Weight rating, shares of The Walt Disney Company (NYSE: DIS) with an Outperform rating and shares of Time Warner Inc (NYSE: TWX) and Viacom Inc (NYSE: VIA.B) with Neutral ratings.
- Bernstein initiated coverage of the oil services sector with a Positive Bias rating. The firm initiated Weatherford International Ltd (NYSE: WFT) with an Outperform rating and $84 target and Halliburton Company (NYSE: HAL), Baker Hughes Incorporated (NYSE: BHI) and Schlumberger Limited (NYSE: SLB) with Market Perform ratings and a $44 target, $103 target and $96 target, respectively.
- MercadoLibre Inc (NASDAQ: MELI) was initiated by American Technology with a Buy rating and $45 target, as the firm believes the e-commerce growth opportunity in Latin America is still in its infancy. Shares were also started at Pacific Crest with an Outperform rating and $37 target, as the firm believes the company should benefit from strong secular growth and company-specific drivers. MercadoLibre was also initiated at JP Morgan with an Overweight rating and at Merrill Lynch with a Buy rating and $35 target.
- Friedman Billings expects Horsehead Holding Corp's (NASDAQ: ZINC) EBITDA to increase even in a declining commodity environment and believes the company is well positioned to gain market share. Shares were started with an Outperform rating and $27 target also added to the firm's Top Pick List.
OTHER INITIATIONS:
Tax Reform in This Election Year: It's Not Likely
Which Credit Card Rewards Does the IRS Care About?
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
