MOST NOTEWORTHY: Melco PBL Entertainment, Helen of Troy, LHC Group and Oriental Financial were today's noteworthy initiations:
Jefferies initiated shares of Melco PBL Entertainment (NASDAQ: MPEL) with a Buy rating and $21 target, as they believe the possibility of A-Max, a VIP junket consolidator, moving up to 10 junkets to the Crown Casino could lead to short-term gains and notes that MPEL is the only Macau pure play in the U.S. stock market.
Jefferies also started shares of Helen of Troy (NASDAQ: HELE) with a Hold rating and $21 target, as they sees risks to near-term EPS from soft consumer demand and gross margin pressures.
Credit Suisse expects LHC Group's (NASDAQ: LHCG) rural-focused strategy and joint venture partnerships to drive organic growth and started shares off with an Outperform rating and $26 target.
Oriental Financial Group (NYSE: OFG) was initiated at B. Riley with a Neutral rating and $12.50 target. The firm does not expect significant multiple expansion from current levels given the slow Puerto Rican economy.
MOST NOTEWORTHY: Wal-Mart Stores, Magna International, EchoStar Communications, Westell Technologies and SiRF Technology were today's noteworthy upgrades:
Rochdale upgraded shares of Wal-Mart Stores (NYSE: WMT) to Buy from Hold citing improved outlook for margins and ROIC.
CIBC World Markets resumed coverage and upgraded shares of Magna International (NYSE: MGA) to Sector Outperformer from Sector Performer as they believe higher multiples are warranted due to the company's improving earnings power and cash flow generation.
Oppenheimer upgraded shares of EchoStar Communications (NASDAQ: DISH) to Buy from Neutral as they believe recent events add $4-$6 per share to their valuation analysis.
Westell Technologies (NASDAQ: WSTL) was upgraded to Outperform from Neutral at Baird. The firm believes Westell is taking the right steps to improve its market position and financial performance.
Credit Suisse upgraded SiRF Technology Holdings (NASDAQ: SIRF) to Outperform from Neutral, expecting the stock to benefit from a strong holiday season at electronic retailers.
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MOST NOTEWORTHY: Melco PBL Entertainment, Helen of Troy, LHC Group and Oriental Financial were today's noteworthy initiations:.gif){kind=logo}
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