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MOST NOTEWORTHY: Fortress, ITT Educational Service and Kendle International were today's noteworthy initiations:
- Fortress Investment Group (NYSE: FIG) was initiated with a Hold rating and $18.50 target at Jefferies. The firm expects near-term volatility given the increasingly difficult private equity market.
- Banc of America assumed coverage of ITT Educational Service (NYSE: ESI) with a Buy rating and $130 target and believes the recent weakness creates an attractive entry point as they see continued margin expansion and upside to Street estimates.
- Susquehanna expects Kendle International (NASDAQ: KNDL) to benefit from positive trends in the Clinical Research Organization industry, expanded customer base and geographical reach, integration of Charles Rivers Laboratories (NYSE: CRL), and backlog. The firm started shares with a Positive rating.
OTHER INITIATIONS:
Will Rich Ross really have a positive impact on Disney's movie operations?
Consumers sick of recession, may spend extra on holidays
Corrections, seasonality and Santa Claus
