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Analyst initiations: CPST, PODD, CMC and TDC

MOST NOTEWORTHY: Capstone Turbine, Insulet and Teradata were today's noteworthy initiations:
  • Merriman believes Capstone Turbine (NASDAQ: CPST) is well-positioned for rapid growth as capacity constraints and dependence on subsidies drive the adoption of clean, dependable hydrocarbon-based technologies. Shares were assumed with a Buy rating.
  • JMP Securities initiated Insulet (NASDAQ: PODD) with an Outperform rating and $29 target and expects increased adoption of the company's OmniPod disposable, tubeless insulin pump.
  • Pacific Crest initiated Teradata (NYSE: TDC) with an Underperform rating. The firm is a seller of shares given the slowing economy and the company's exposure to larger IT deals.
OTHER INITIATIONS:

Analyst initiations: CYPB, BAC, PODD, TLEO and VOCS

MOST NOTEWORTHY: Cypress Bioscience, Banc of America, Insulet, Taleo and Vocus Inc were today's noteworthy initiations:
  • Friedman Billings started shares of Cypress Biosciences Inc (NASDAQ: CYPB) with an Outperform rating and $22 target, and is positive on the company's lead product milnacipran, in Phase III studies for fibromyalgia. The firm expects a 1Q09 launch and believes the U.S. market could be as large as $7B.
  • Goldman resumed coverage of Bank of America Corporation (NYSE: BAC) with a Buy rating and $63 target as they believe the company has around $22.5B of unrealized gains in its strategic investment portfolio. Goldman also added BAC to their Americas Buy List.
  • Insulet Corporation (NASDAQ: PODD) was initiated at William Blair with an Outperform rating. The firm believes the unique features of the OmniPod will allow PODD to capture a meaningful portion of the 300,000 current insulin pumpers in the United States.
  • Soleil started shares of Taleo Corporation (NASDAQ: TLEO) with a Buy rating and $35 target and believes the company's recent growth pace can continue.
  • Shares of Vocus Inc (NASDAQ: VOCS) were also initiated at Soleil with a Buy rating and $39 target. The firm believes the company can gain share in the early stage market for public relations software given its on-demand model and low price entry point.
OTHER INITIATIONS:

Analyst initiations 6-25-07: CAP, CLR, ESS and LOGI

MOST NOTEWORTHY: CAI International (CAP), ATS Corp (ATCT), Logitech International (LOGI) and Wireless Ronin (RNIN) were today's more noteworthy initiations:
  • Piper Jaffray started CAI International (NYSE: CAP) with an Outperform rating and $18 target, believing the company is well positioned to capitalize on global trade growth. Jefferies started CAI Int'l with a Buy rating and $17 target.
  • CRT Capital believes ATS Corp's (NASDAQ: ATCT) risks are offset by positive long-term fundamentals of the federal IT services sector and the company's experienced management team and started shares with a Buy rating and $5 target.
  • ThinkEquity believes that Wireless Ronin Technologies (NASDAQ: RNIN) is exposed to one of the biggest open-ended growth opportunities in digital media today with its RoninCast application and started shares with a Buy rating...
OTHER INITIATIONS:
  • Deutsche Bank and JP Morgan started Continental Resources (NYSE: CLR) with an Overweight rating, while Merrill Lynch started Continental Resources with a Buy rating.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA-154.4810,309.92
NASDAQ-37.612,138.44
S&P 500-19.141,091.49

Last updated: November 28, 2009: 03:55 AM

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