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Analyst initiations: Monolithic Power, Emergency Medical Services, Amsurg, EnergySolutions

MOST NOTEWORTHY: Today's noteworthy initiations were Monolithic Power, Emergency Medical Services, Amsurg and EnergySolutions.
  • Monolithic Power (NASDAQ: MPWR) was initiated with a Buy at Am Tech, which predicted that Monolithic Power will have significant design win momentum that should result in stronger than expected revenue growth. The firm thinks the company will be able to grow 20% in its 2008, thanks to its new products and competitive prices.
  • Emergency Medical Services (NYSE: EMS) was initiated with a Sell, target $15 at Citigroup. Citigroup believes EMS's earnings contribution from insurance releases and prior period adjustments is not sustainable.
  • AMSurg (NASDAQ: AMSG) was initiated with a Buy, target $32 at Citigroup. Citigroup said it is positive on AMSurg given its history of FCF per share growth, low out of network exposure, little debt risk, and acquisition pipeline.
  • EnergySolutions (NYSE: ES) was initiated with a Market Perform, target $26 at FBRC. Friedman Billings expects EnergySolutions to trade at a slight discount to peers given its leverage balance sheet and perceived slower growth.
OTHER INITIATION:
  • VMWare (NYSE: VMW) initiated with a Market Weight at Thomas Weisel, based on valuation. Thomas Weisel believes VMWare is uniquely positioned to benefit from trends toward centralized IT resources, on-demand delivery and greater efficiency.
  • Citrix Systems (NASDAQ: CTXS) was initiated with an Overweight, target $37 at Thomas Weisel. Thomas Weisel believes Citrix Systems is uniquely positioned to benefit from trends toward centralized IT resources and on-demand delivery given its product line that targets the data center.

Analyst upgrades: APOL, ZRAN, AMSG, AAPL and TRB

MOST NOTEWORTHY: Apollo Group, Zoran, AmSurg Corp, Apple and Tribune Co were today's noteworthy upgrades:
  • Baird upgraded shares of Apollo Group (NASDAQ: APOL) to Outperform from Neutral based on positive enrollment and revenue trends, margin improvement, and a strategic international announcement.
  • CIBC upped its rating on Zoran Corporation (NASDAQ: ZRAN) to Sector Outperformer from Sector Performer following strong Q3 results and guidance.
  • Jefferies upgraded shares of AmSurg Corp (NASDAQ: AMSG) to Buy from Hold as they believe the new CEO is preparing to drive earnings growth through acquisitions.
  • ThinkEquity continues to expect Apple (NASDAQ: AAPL) to outpace the industry in growth. The firm upgraded shares to Buy from Accumulate.
  • Barrington upgraded shares of Tribune Company (NYSE: TRB) to Market Perform from Underperform on valuation, as they believe the current price significantly discounts the risks of the going private transaction getting done.
OTHER UPGRADES:

Symbol Lookup
IndexesChangePrice
DJIA+30.6910,464.40
NASDAQ+6.872,176.05
S&P 500+4.981,110.63

Last updated: November 27, 2009: 07:38 AM

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