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MOST NOTEWORTHY: AU Optronics, General Steel and Sequenom were today's noteworthy initiations:
- Jefferies initiated AU Optronics (NYSE: AUO) with a Buy rating and $25 target and believes LCD trends will be healthy in 2008 despite a soft economy.
- General Steel (NYSE: GSI) shares were started at Merriman with a Buy rating, as the firm believes strong demand for steel in China should last for years and finds the valuation attractive at current levels.
- Cantor believes Sequenom (NASDAQ: SQNM) is positioned to establish sustainable market leadership as a provider of genome analytical products and molecular diagnostics. Shares were assumed with a Buy rating and $12 target.
OTHER INITIATIONS:
- UBS initiated Altria Group (NYSE: MO) with a Buy rating and $30 target.
- Canaccord Adams assumed Drugstore.com (NASDAQ: DSCM) with a Buy rating and $3.50 target.
- Goldman Sachs initiated DirecTV (NASDAQ: DTV) with a Buy rating and $30 target.
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