MOST NOTEWORTHY: The auto parts retail sector, Electronics Arts (ERTS), Cinemark Holdings (CNK) and Monster Worldwide (MNST) were today's more noteworthy initiations:
- Wachovia initiated coverage on AutoZone (NYSE: AZO), Advance Auto Parts (NYSE: AAP) and O'Reilly Automotive (NASDAQ: ORLY) with Outperform ratings. The firm sees upside for AutoZone from share buybacks, Advance Auto Parts from improved cost control and margins, and O'Reilly Automotive from share gains and fundamental performance.
- First Albany started Electronic Arts (NASDAQ: ERTS) with a Buy rating and sees significant upside in the first-half of 2008.
- BMO Capital started Cinemark (NYSE: CNK) with an Outperform rating, citing Cinemark's internal growth opportunities as well as its international opportunities in Latin America.
- American Tech started Monster Worldwide (NASDAQ: MNST) with a Neutral rating, saying fundamentals and the macro backdrop remain uncertain...
OTHER INITIATIONS:
- Bernstein initiated coverage on Google (NASDAQ: GOOG) and eBay (NASDAQ: EBAY) with Outperform ratings and a $635 target and $39 target, respectively, and Amazon.com (NASDAQ: AMZN), InterActive Corp (NASDAQ: IACI) and Yahoo! (NASDAQ: YHOO) with Market Perform ratings and a $65 target, $38 target and $29 target, respectively.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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