MOST NOTEWORTHY: The only company that topped today's list of initiations was
Armstrong World Industries Inc (NYSE:
AWI).
- Oppenheimer initiated Armstrong, whom they consider a relatively undiscovered, asbestos-related post-bankruptcy company, with a Buy rating and $55 target. They believe Armstrong could aggressively deliver its already conservative balance sheet and ultimately repurchase shares.
OTHER INITIATIONS:
- General Motors Corp (NYSE: GM) was reinstated at Morgan Stanley with an Equal-Weight rating.
- Cowen initiated Level 3 Communications Inc (NASDAQ: LVLT) with an Outperform rating.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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