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Analyst initiations 5-23-07: BECN, LEAP, MHP and PCS

Posted May 23rd 2007 11:37AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, McGraw-Hill Companies (MHP), Analyst Initiations

MOST NOTEWORTHY: Bluefly, Inc (BFLY), Leap Wireless International, Inc (LEAP), Kona Grill, Inc (KONA), MetroPCS Communications, Inc (PCS) and Beacon Roofing Supply (BECN) were today's more noteworthy initiations:

Merriman believes FY07 is a transitional year for Bluefly (NASDAQ: BFLY), starting the company with a Neutral rating, and finds the stock fairly valued at current levels.

Robert W. Baird expects growth at Leap Wireless International (NASDAQ: LEAP) to be fueled by upcoming market launches, starting shares with an Outperform rating.

Thomas Weisel is positive on Kona Grill's (NASDAQ: KONA) expansion, same-store sales growth, ramping unit volumes and corporate G&A leverage, starting shares with an Outperform rating.

Robert W. Baird expects MetroPCS Communications (NYSE: PCS) growth to be fueled by upcoming market launches and initiated shares with an Outperform rating and $14 target.

Needham believes shares of Beacon Roofing Supply (NASDAQ: BECN) have overreacted to the weak residential new construction market, which represents only 20% of business, and started shares with a Buy rating and $22 target...

OTHER INITIATIONS:

JP Morgan started Array BioPharma Inc (NASDAQ: ARRY) with an Overweight rating.

Lehman initiated shares of McGraw-Hill Cos, Inc (NYSE: MHP) with an Overweight rating and $81 target.

MVC Capital, Inc (NYSE: MVC) was started with a Neutral rating and UBS.

Morgan Joseph started Cash Systems, Inc (NASDAQ: CKNN) with a Buy rating and $9 target.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

IPO & secondary preview: week of Feb. 19, 2007

Posted Feb 16th 2007 3:07PM by Joseph Lazzaro (RSS feed)
Filed under: SEC Filings, Other Issues, Deals, Competitive Strategy

Wall Street's equity market offers a very light schedule next week, with just three Secondaries on the docket.

Those deals tentatively scheduled to price include:

IPOs:

No IPOs scheduled.

Secondaries:

Thursday

Burger King Holdings, Inc. (NYSE:BKC), a 20M-share Secondary for this international fast food chain. JP Morgan Chase, Goldman Sachs & Morgan Stanley are the lead managers.

Friday

Aviza Technology Inc. (NASDAQ:AVZA), a 4M-share Secondary for this semiconductor manufacturer. Needham & Co. is the lead manager.

MVC Capital (NYSE:MVC), a 5M-share Secondary for this business financing operation. UBS Investment & Bear Stearns are the lead managers.

For the latest market intelligence on IPOs, Syndicate, and after-market trades, check out TheFLY Syndicate at www.theflyonthewall.com. [Subscription required.]