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MOST NOTEWORTHY: The Railroad Sector and Obagi Medical (OMPI) were today's most notable initiations:
  • Calyon Securities initiated coverage on the following stocks, all with Neutral ratings, including Burlington Northern Santa Fe Corp (NYSE: BNI), Canadian National Railway Co (NYSE: CNI), Canadian Pacific Ltd (NYSE: CP), CSX Corp (NYSE: CSX), Norfolk Southern Corp (NYSE: NSC).and Union Pacific Corp (NYSE: UNP).
  • Obagi Medical (NASDAQ: OMPI) was initiated by Baird with an Outperform rating and $13 target; CIBC started the specialty pharmaceutical company with a Sector Outperformer rating and $14 target, saying the company is a pure play in the rapidly-growing aesthetics market and has expectations that the company's growth will accelerate due to the rise in physician-dispensed products.

OTHER INITIATIONS:
  • MasterCard Inc (NYSE: MA) was initiated with a Neutral rating at Merrill Lynch.
  • Xoma Ltd (NASDAQ: XOMA) was initiated with a Market Outperform rating at Rodman & Renshaw. The firm said XOMA's antibody technology licenses and manufacturing provide an important source of consistent and growing commercial revenues. Additionally, the broker said Raptiva is becoming a more meaningful contributor.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst initiations 1-23-07: Calyon's been working on the Railroads originally appeared on BloggingStocks on Tue, 23 Jan 2007 11:53:00 EST. Please see our terms for use of feeds.

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