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MOST NOTEWORTHY: Chesapeake, Brookfield Asset Management and Nile Therapeutics were today's noteworthy initiations:
- Jefferies initiated Chesapeake Energy Corp. (NYSE: CHK) with a Buy rating and $54 target and thinks the company can post group-leading organic growth in production and reserves over the next several years.
- Thomas Weisel assumed Brookfield Asset Management (NYSE: BAM) with a Market Weight rating citing slowing cash flow growth.
- Rodman & Renshaw is positive on Nile Therapeutics' (OTC: NILT) lead compound, CD-NP, a chimeric natriuretic peptide with potential efficacy and safety enhancements that could permit broad use in acute heart failure setting. The firm started shares of Nile with a Market Outperform rating and $7 target.
OTHER INITIATIONS:
- Baird initiated Concur Tech (NASDAQ: CNQR) with a Neutral rating.
- RBC Capital initiated General Moly (AMEX: GMO) with a Sector Perform rating and $11 target.
- Wachovia (NYSE: WB) was reinstated at Goldman with a Neutral rating.
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