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Analyst Initiations: KGS, HIRE, DAI and MASI

MOST NOTEWORTHY: Quicksilver Gas Services, Hireright, DaimlerChrysler and Masimo were today's noteworthy initiations:
  • AG Edwards initiated Quicksilver Gas Services (NYSE: KGS) with a Buy rating and $26 target as the firm believes the company's distribution growth has high visibility, based on its current asset base and the possibility of third-party acquisitions. UBS initiated shares with a Buy rating and $34 target.
  • Hireright (NASDAQ: HIRE) was initiated with a Market Perform rating and $13 target at Piper Jaffray, as the firm believes the company's distribution growth has high visibility, based on its current asset base and the possibility of third-party acquisitions. CIBC is positive on Hireright's extensive solution set and strategic alliances and initiated shares with a Sector Outperformer rating.
  • DaimlerChrysler (NYSE: DAI) was started at Bear Stearns with an Outperform rating. Following the Chrysler transaction, Bear expects Daimler to raise its margin guidance now that the company can focus on its truck platform.
  • Masimo Corporation (NASDAQ: MASI) was initiated with an Outperform rating at Piper Jaffray, as the firm believes the company's "best in class" technology will drive continued pulse oximetry share gains. Cowen initiated shares with a Neutral rating on valuation and Deutsche Bank started shares with a Buy rating and $30 target..
OTHER INITIATIONS:
  • TD Newcrest started shares of Vitran Corporation (NASDAQ: VTNC) with a Hold rating.
  • Lazard started shares of E-House China Holdings (NYSE: EJ) with a Buy rating; CIBC initiated shares with a Sector Outperformer rating and $25 target.
  • Rodman & Renshaw initiated shares of Iomai Corporation (NASDAQ: IOMI) with a Market Outperform rating and $4.25 target.

Analyst downgrades 5-31-07: Ethanol producers to Sell

MOST NOTEWORTHY: Ethanol producers Novacea, Inc. (NOVC) and Aimco (AIV) were today's noteworthy downgrades:
  • Banc of America downgraded shares of Andersons Inc. (NASDAQ: ANDE) to Neutral from Buy, as well as VeraSun Energy (NYSE: VSE), Pacific Ethanol (NASDAQ: PEIX) and Aventine Renewable Energy (NYSE: AVR) to Sell from Neutral. The firm believes new ethanol supply will depress ethanol's premium to gasoline, drive corn prices higher and pressure distillers' grains values.
  • Novacea Inc. (NASDAQ: NOVC) was downgraded to Peer Perform from Outperform at Bear Stearns based on valuation and lack of catalysts until 2H08; the firm believes the company's deal with Schering-Plough (NYSE: SGP) is a positive.
  • Aimco Properties (NYSE: AIV) was downgraded to Underweight from Equal Weight at Lehman, as the firm does not view AIV as an attractive takeover target.
OTHER UPGRADES:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrades 5-25-07: APA, BHP, TIF and RTP

MOST NOTEWORTHY: Christopher & Banks Corp (CBK), Tiffany & Co (TIF), Sterling Financial Corp (SLFI), and Komag, Inc (KOMG) were today's most noteworthy downgrades:
  • Matrix believes lower selling prices and volumes are negatively affecting Christopher & Banks' (NYSE: CBK) margins and downgraded to Sell from Hold.
  • Tiffany & Co (NYSE: TIF) was cut to Neutral from Overweight at HSBC based on valuation.
  • Suntrust downgraded shares of Sterling Financial (NASDAQ: SLFI) to Reduce from Neutral given the charge from an ongoing investigation into the irregularities discovered with certain financing contracts of affiliate Equipment Finance LLC.
  • Komag (NASDAQ: KOMG) was cut to Hold from Strong Buy at Needham after the company pre-announced lower-than-expected second quarter results. Bear Stearns downgraded shares of Komag to Peer Perform from Outperform...
OTHER DOWNGRADES:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA+72.8112,874.04
NASDAQ+27.512,931.39
S&P 500+9.131,351.77

Last updated: February 13, 2012: 05:14 PM

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