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MOST NOTEWORTHY: Bionovo, Constant Contact, Senorx, and RemoteMDx were today's noteworthy initiations:
- Merriman initiated Bionovo Inc (NASDAQ: BNVI), with a Buy rating, as they believe shares are undervalued given the company's development pipeline and related intellectual property.
- Constant Contact Inc (NASDAQ: CTCT) was initiated with a Market Weight rating at Thomas Weisel. The company was also initiated with a Sector Outperformer and $30 target at CIBC, as they believe the company is well-positioned in the on-demand email marketing segment.
- Citigroup initiated Senorx Inc (NASDAQ: SENO) with a Hold rating and $12 target, citing competition concerns and their belief that infrastructure investments could delay profitability.
- BWS Financial said RemoteMDx Inc (OTC: RMDX) has been able to secure contracts that should result into larger follow-on orders as the TrackerPAL starts to have a history in real life scenarios. The firm started shares off with a Buy rating and $8.75 target.
OTHER INITIATIONS:
Foreclosures fall, but are still higher than a year ago
HP's deal for 3Com: A missile launch at Cisco?
Before the bell: Stocks to open lower despite Wal-Mart's beat
