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Analyst initiations: LEH, NOK and ISRG

MOST NOTEWORTHY: Lehman Brothers, Nokia and Intuitive Surgical were today's noteworthy initiations:
  • Morgan Stanley initiated Lehman Brothers (NYSE:LEH) with an Overweight rating and $31 target. The firm believes Lehman's discount to book value prices in significant write-downs.
  • Bernstein believes Nokia (NYSE:NOK) will see a slowdown in demand for devices and could loss market share. Shares were initiated with an Underperform rating.
  • Merriman assumed Intuitive Surgical (NASDAQ:ISRG) with a Neutral rating and believes the tightened credit markets could impact capital equipment spending for small and mid-sized hospitals. They find shares appropriately valued at current levels.
OTHER INITIATIONS:
  • Terre Kaufman initiated Terremark Worldwide (NASDAQ:TMRK) with a Buy rating and $8 target.
  • T-3 Energy (NASDAQ:TTES) was initiated at Jefferies with a Buy rating and $95 target.
  • Adobe (NASDAQ:ADBE) was assumed with an Outperform rating and $48 target at Friedman Billings.

Analyst initiations 4-30-07: BGFV, CVS, IGT, IHP and RATE

MOST NOTEWORTHY: Today's more noteworthy initiations included International Game Technology (IGT), Big 5 Sporting Goods Corp (BGFV), CVS/Caremark Corp (CVS) and IHOP Corp (IHOP):
  • Jefferies assumed coverage of International Game Tech (NYSE: IGT) with a Buy rating and $47 target citing an attractive risk/reward.
  • Big 5 Sporting Goods (NASDAQ: BGFV) was started with a Sector Performer rating and $33 target at CIBC, expecting shares to be driven by an operating margin recover and improving cash flows.
  • CVS/Caremark Corp (NYSE: CVS) was reinstated with an Overweight rating at Lehman Brothers and resumed with an Overweight rating at Morgan Stanley.
  • JP Morgan believes the rough environment, growing competition and valuation warrants IHOP Corp (NYSE: IHP) to start with a Neutral rating.
OTHER INITIATIONS:
  • American Technology initiated shares of Bankrate, Inc (NASDAQ: RATE) with a Buy rating and $48 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 10, 2012: 10:59 PM

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