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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:

Analyst initiations 5-14-07: ASIA, BLDP, JASO and NTGR

MOST NOTEWORTHY: Ballard Power Systems Inc (BLDP), GSI Technology, Inc (GSIT), eTelecare Global Solutions (ETEL) and JA Solar Holdings Co, Ltd (JASO) were the most noteworthy initiations in today's modest-sized list:
  • GSI Technology (NASDAQ: GIST) is gaining shares at key customers while ramp-up of its next-generation product should act as a strong catalyst to revenue starting in 2H07; Baird started shares with an Outperform rating.
  • Baird also initiated eTelecare Global (NASDAQ: ETEL) with an Outperform rating citing consistent above-industry growth rates.
  • American Technology initiated JA Solar Holdings Co (NASDAQ: JASO) with a Buy rating, pointing to the company's long-term customer agreements and solid silicon position...
OTHER INITIATIONS:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA-93.7910,197.47
NASDAQ-17.882,149.02
S&P 500-11.271,087.24

Last updated: November 12, 2009: 09:49 PM

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