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MOST NOTEWORTHY: Invesco, Visa and Netscout Systems were today's noteworthy initiations:
- Keefe Bruyette believes Invesco's (NYSE:IVZ) initiatives will drive significant revenue and operating leverage to any improvement in the operating environment. The firm started shares with an Outperform rating and $28 target. Visa was started ast Cowen with an Outperform rating, as they are positive on the Visa's growth prospects and attractive business model.
- Keefe Bruyette also recommends owning Visa (NYSE:V), assuming coverage with an Outperform rating and $80 target, and established FY08, FY09, and FY10 EPS estimates of $1.89, $2.33 and $2.80.
- Netscout Systems (NASDAQ:NTCT) was initiated at ThinkEquity with a Buy rating and $13 target. ThinkEquity believes Netscout is well positioned to outperform and win share in its addressable market niche following the Network General acquisition. Additionally, the firm views NTCT as an attractive takeover candidate for larger infrastructure management players.
OTHER INITIATIONS:
- JP Morgan initiated Signature Bank (SBNY) with a Neutral rating.
- Wendy's (WEN) was reinstated at Goldman with a Sell rating and $21 target.
- Needham started NeuStar (NSR) with a Hold rating.
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