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MEMS posts

Analyst initiations: NVS, WSII, AMCN and PAET

MOST NOTEWORTHY: Novartis, Waste Systems, AirMedia Group, and PAETEC Holding were today's noteworthy initiations:

Novartis (NYSE: NVS) was initated with a Neutral at Cowen, which cited the company's upcoming patent expirations.
Gabelli initiated Waste Systems (NASDAQ: WSII) with a Buy, as it believes consolidated operations in Florida, increased waste internalization, and continued price increases, should lead to expanding EBIT margins.
Oppenheimer initiated AirMedia Group (NASDAQ: AMCN) with an Outperform, as it believes that the Beijing Olympics will help the company acheive better than expected earnings.
Deutsche Bank initiated PAETEC Holding (NASDAQ: PAET) with a Buy, as the firm believes PATEC is well-positioned to benefit from improving industry conditions.

OTHER INITIATIONS:

MOST NOTEWORTHY: Intellon, Memsic and MGM Mirage were today's noteworthy initiations:

Jefferies believes Intellon (NASDAQ: ITLN) is well-positioned to benefit from increasing IPTV rollouts in Europe and Asia, as well as from additional consumer applications in the digital home. The firm assumed shares with a Buy rating and $9 target.
Jefferies also initiated coverage of Memsic (NASDAQ: MEMS) with a Buy rating and $10 target, as they view the company as a compelling investment for investors seeking exposure to high-quality semiconductor companies benefiting from lower-cost China manufacturing.
Banc of America initiated MGM Mirage (NYSE: MGM) with a Neutral rating and $76 target, as they are cautious on Las Vegas in 2008 due to decelerating U.S. gaming revenue growth and increasing Strip room supply growth between 2008-2010.

OTHER INITIATIONS:

Thomas Weisel initiated Bed Bath & Beyond (NASDAQ: BBBY) with a Market Weight rating.
Walt Disney (NYSE: DIS) and News Corp (NYSE: NWS) were started with Equal Weight ratings at Morgan Stanley.
Merrill initiated Baidu.com (NASDAQ: BIDU) with a Buy rating and $430 target.