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Analyst initiations 6-26-07: AAPL, CMG, GOOG, YHOO and VCLK

MOST NOTEWORTHY: Google (GOOG), Yahoo! (YHOO), Apple (AAPL), Cash Systems (CKNN) and Citrix (CTXS) were today's noteworthy initiations:
  • Oppenheimer believes Google Inc (NASDAQ: GOOG) is the largest beneficiary of the secular growth trends in Internet advertising and transitioned coverage with a Buy rating and $625 target.
  • Oppenheimer also believes the current price of Yahoo! (NASDAQ: YHOO) is an attractive entry point given the company's number one position in display advertising and the recent successful launch of Panama. The firm transitioned coverage of Yahoo! with a Buy rating and $34 target.
  • RBC Capital sees continued upside for Apple Inc (NASDAQ: AAPL) based on achieving its 10M goal for iPhone, upside from Mac momentum and maintaining iPod/iTunes dominance helped by new products, and started shares with an Outperform rating and $160 target.
  • Merriman believes Cash Systems (NASDAQ: CKNN) is positioned to gain meaningful share in the casino cash access industry through the near-term introduction of powercash and started shares with a Buy rating.
  • Friedman Billings believes Citrix's (NASDAQ: CTXS) latest Presentation Server product release has some near-term risk given raised prices and initiated shares with a Market Perform rating and $35 target...
OTHER INITIATIONS:
  • ValueClick (NASDAQ: VCLK) was initiated at Oppenheimer with a Buy rating.
  • First Albany initiated coverage of dELiA's (NASDAQ: DLIA) with a Neutral rating.
  • Banc of America initiated coverage of Jefferies Group (NYSE: JEF) with a Buy rating and $34 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst initiations 5-23-07: BECN, LEAP, MHP and PCS

MOST NOTEWORTHY: Bluefly, Inc (BFLY), Leap Wireless International, Inc (LEAP), Kona Grill, Inc (KONA), MetroPCS Communications, Inc (PCS) and Beacon Roofing Supply (BECN) were today's more noteworthy initiations:
  • Merriman believes FY07 is a transitional year for Bluefly (NASDAQ: BFLY), starting the company with a Neutral rating, and finds the stock fairly valued at current levels.
  • Robert W. Baird expects growth at Leap Wireless International (NASDAQ: LEAP) to be fueled by upcoming market launches, starting shares with an Outperform rating.
  • Thomas Weisel is positive on Kona Grill's (NASDAQ: KONA) expansion, same-store sales growth, ramping unit volumes and corporate G&A leverage, starting shares with an Outperform rating.
  • Robert W. Baird expects MetroPCS Communications (NYSE: PCS) growth to be fueled by upcoming market launches and initiated shares with an Outperform rating and $14 target.
  • Needham believes shares of Beacon Roofing Supply (NASDAQ: BECN) have overreacted to the weak residential new construction market, which represents only 20% of business, and started shares with a Buy rating and $22 target...
OTHER INITIATIONS:
  • Morgan Joseph started Cash Systems, Inc (NASDAQ: CKNN) with a Buy rating and $9 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA+132.7910,450.95
NASDAQ+29.972,176.01
S&P 500+14.861,106.24

Last updated: November 24, 2009: 07:15 AM

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