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Analyst initiations: NBF, SABA and DAR

MOST NOTEWORTHY: Nova BioScience, Saba Software and Darling were today's noteworthy initiations:
  • Jefferies initiated Nova BioSource Fuels (NYSE: NBF) with a Buy rating and $3.75 target, and finds the risk/reward attractive for biofuels investors as the company has more than 100M gallons of biodiesel capacity slated to come onstream by 2009.
  • B. Riley expects Saba Software's (NASDAQ: SABA) renewed focus on profitability to drive substantial EPS and free cash flow expansion in FY09. The firm started shares with a Buy rating and $6 target.
  • Stephens believes Darling International (NYSE: DAR) shares offer a solid commodity cycle and an attractive renewable fuels opportunity and initiated shares with an Overweight rating and $17 target..
OTHER INITIATIONS:

Analyst initiations: TPGI, NGLS, ARMHY, FNLY and KOF

MOST NOTEWORTHY: Thomas Properties, Tanga Resource Partners, ARM Holdings, Finlay Enterprises and Coca-Cola Femsa were today's noteworthy initiations:
  • Shares of Thomas Properties Group Inc (NASDAQ: TPGI) were initiated with a Neutral rating and $14 target at Banc of America. The firm has concerns over the lack of liquidity in the shares and considerable insider ownership levels.
  • RBC Capital started shares of Targa Resource Partners LP (NASDAQ: NGLS) with an Outperform rating and $35 target, as they expect shares recover once financing is in place.
  • Jefferies started shares of ARM Holdings PLC (NASDAQ: ARMHY) with a Buy rating, citing the company's new products, margin leverage, buybacks and royalties ramp.
  • Finlay Enterprises Inc (NASDAQ: FNLY) was initiated with a Neutral rating and $4.80 target at B. Riley, citing integration and execution risks.
  • Coca-Cola Femsa SA (NYSE: KOF) was started with a Buy rating at Gabelli, as they find the valuation attractive as the company's growth in key markets of , , and continues.
OTHER INITIATIONS:

Analyst upgrades 3-29-07: Berkshire Hathaway & Warner Music Group upgraded

MOST NOTEWORTHY: Warner Music Group Corp (WMG), Red Robin Gourmet Burgers, Inc (RRGB) and Berkshire Hathaway Inc (BRK.A) were some of today's notable upgrades:
OTHER UPGRADES:
  • UBS upgraded ARM Holdings plc (NASDAQ: ARMHY) to Buy from Neutral as the firm believes the company will be a significant beneficiary of the acceleration in 3G handset adoption in 2007.
  • Wachovia upgraded Pactiv Corp (NYSE: PTV) to Outperform from Market Perform on valuation.
  • O2Micro International Ltd (NASDAQ: OIIM) was upgraded to Buy from Neutral at Oppenheimer citing a possible near-term court settlement with Samsung, which provides significant earnings leverage.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

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S&P 500+5.401,098.41

Last updated: November 11, 2009: 09:33 AM

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