Tax Reform in This Election Year: It's Not Likely
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MOST NOTEWORTHY: Invesco, Kimberly Clark and Crawford & Company were today's noteworthy initiations:
- Jefferies finds Invesco (NYSE: IVZ) compelling given the company's focus on expense control, strong cash flow characteristics, and attractive valuation. Shares were assumed with a Buy rating and $33 target.
- Caris started Kimberly Clark (NYSE: KMB) with a Below Average rating and $58 target. The firm believes consensus estimates may be too high given the high cost of commodities.
- Suntrust started Crawford & Company (NYSE: CRDB) with a Buy rating and $8 target, and believes the company is at the "front end" of a turnaround in operations.
OTHER INITIATIONS:
- Bernstein initiated Energizer Holdings (NYSE: ENR) with an Outperform rating and $100 target.
- BMO Capital assumed Range Resources (NYSE: RRC) with an Outperform rating and $85 target.
- Intrepid Potash (NYSE: IPI) was started with a Sell rating and $40 target at Soleil.
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