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Analyst initiations: GSIT, ARRY and CLR

MOST NOTEWORTHY: GSI Technology, Array Biopharma and Continental Resources were today's noteworthy initiations:
  • Merriman believes GSI Technology Inc (NASDAQ: GSIT) is positioned to benefit as growing bandwidth demand and increasingly complex protocols drive the need for faster and higher density memory in networking equipment. The firm started shares with a Buy rating.
  • Array Biopharma Inc (NASDAQ: ARRY) was assumed with an Outperform rating at William Blair. The firm thinks the company's pipeline contains significant value, which will be catalyzed over the next 12-18 months by continued clinical progress and potential partnerships.
  • Continental Resources Inc (NYSE: CLR) was initiated with a Buy rating and $30 target at Jefferies, and points to the company's double-digit growth and strong reserve growth potential.
OTHER INITIATIONS:

IPO & secondary preview - week of March 26, 2007

Wall Street's equity market offers another solid schedule this week, with 12 deals on the docket, including 7 IPOs and 5 Secondaries. Those deals tentatively scheduled to price include:

IPOs:

Monday

Aruba Networks (ARUN), an 8M-share IPO for secure wireless systems company. JP Morgan Chase and Lehman Brothers are the lead managers. Filing range: $8.00-$10.00.

Wednesday

eTelecare Global Solutions (ETEL), a 5.5M-share IPO for this call center company. Deutsche Bank is the lead manager. Filing range:
$12.50-$14.50.

Thursday

GSI Technology (GSIT), an 8M-share IPO for this semiconductor company. Needham and W.R. Hambrecht are the lead managers. Filing range: $6.50-$8.00.

Senorx (SENO), a 5.5M-share IPO for this medical devices company. Bank of America and Citigroup are the lead managers. Filing range: $11.00-$13.00.

Super Micro Computer (SMCI), an 8M-share IPO of this network servers company. Merrill Lynch is the lead manager. Filing range $9.50-$11.50.

Friday

Flagstone Reinsurance (FSR), a 13M-share IPO for this reinsurance company. Lehman Brothers and Citigroup are the lead managers. Filing range: $12.50-$14.50.

Western United Financial (WNF), a 6.4M-share IPO for this business financing company. Sandler O'Neill is the lead manager. Filing price: $8.00.

Continue reading IPO & secondary preview - week of March 26, 2007

Symbol Lookup
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DJIA+44.2910,291.26
NASDAQ+15.822,166.90
S&P 500+5.501,098.51

Last updated: November 11, 2009: 09:55 PM

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