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IPO & secondary preview -- Week of June 18, 2007

Wall Street's equity market offers a modest plate this week, with three IPOs and four Secondaries on the docket.

Those deals tentatively scheduled to price include:

IPOs:

Tuesday

  • Aldabra 2 Acquisition (ALL.U), a 30M-share IPO for this business finance company. Lazard is the lead manager. Filing price: $10.00
  • Sterlite Industries (SLT), a 125M-share IPO for this India-based metals company. Merrill Lynch, Morgan Stanley and Citigroup are the lead managers. Filing price: $13.85.

Thursday

  • Care Investment Trust (CRE), an 18.75M-share IPO for this business finance company. Credit Suisse and Merrill Lynch are the lead managers. Filing range: $15.00-$17.00.

Continue reading IPO & secondary preview -- Week of June 18, 2007

Analyst initiations 11-1-06: CommVault initiated by four firms

MOST NOTEWORTHY: Onyx Pharmaceuticals (ONXX) and CommVault (CVLT) top the list of today's initiations.

  • Citigroup started Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX) with a Hold rating and $22 target as the broker expects shares to be range bound until clarity is given into the company's cancer indications. A bunch firms initiated recent IPO CommVault Systems this morning, including IPO managers First Boston and Goldman Sachs.
  • Goldman started shares of CommVault Systems, Inc. (NASDAQ:CVLT) with a Buy and $21 target, and added shares to its prestigious Conviction Buy List, as they expect the company to benefit from relationships with DELL and HDS. First Boston is more lukewarm on the name, starting shares with a Neutral rating and the same target of $21. Other firms' imitating the stock this morning was Merrill Lynch with a Buy, and Thomas Weisel and RBC Capital with Outperform ratings.

OTHER INITIATIONS:

  • Caris initiated three retail names this morning: American Eagle Outfitters, Inc. (NASDAQ:AEOS), Limited Brands, Inc. (NYSE:LTD) and Men's Wearhouse, Inc. (NYSE:MW). The broker favors Limited and Men's Wearhouse with Above Average ratings, thinking inventory and cost management can bring margin expansion. Caris is less excited about American Eagle, starting shares with an Average rating, believing shares are fairly valued at current levels.

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

Symbol Lookup
IndexesChangePrice
DJIA-74.9212,454.83
NASDAQ-1.852,837.53
S&P 500-2.861,317.82

Last updated: May 27, 2012: 10:45 AM

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