MOST NOTEWORTHY: Google (GOOG) and Broadcom (BRCM) were the notable companies initiated today:
- Cantor initiated Google Inc. (NASDAQ:GOOG) with a Buy rating and $650 target, believing Google will continue to benefit from the secular shift of advertising and marketing dollars to the Internet and sees no signs of business "hitting the wall."
- Broadcom Corp. (NASDAQ:BRCM) was initiated by ThinkEquity with an Accumulate rating and $34 target; while the company is well-positioned in growth areas for 2007, the rating was based on excess channel inventory and valuation, and recommended that investors only buy shares of Broadcom on weakness.
OTHER INITIATIONS:
- aQuantive Inc. (NASDAQ:AQNT) was initiated with a Buy rating and $30 target at Cantor; the firm believes aQuantive has positioned itself as a "best-of-breed" provider of digital marketing services and technologies.
- Kevin Dann reinstated The Wet Seal Inc. (NASDAQ:WTSLA) with a Buy rating and $9.75 target, feeling that The Wet Seal can still meet their Q4 comps estimate of 3%, and believes the guide-down in comps would not have been necessary except for the need for full disclosure relative to the secondary offering.
- JP Morgan initiated Quality Systems Inc. (NASDAQ:QSII) with an Overweight rating, positive on the company's valuation and long track record.
- Prudential initiated The Scotts Miracle-Gro Co. (NYSE:SMG) with a Neutral on valuation with a $56 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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