arena pharmaceutical posts
FeedPosted Sep 28th 2007 11:25AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Kroger Co (KR), Genentech Inc (DNA), Analyst initiations, Valero Energy (VLO), Gilead Sciences (GILD)
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MOST NOTEWORTHY: The biotech sector, WESCO International, Wyndham and Century Casinos were today's noteworthy initiations:
- BMO Capital initiated coverage on Arena Pharmaceuticals Inc. (NASDAQ: ARNA) and Gilead Sciences Inc. (NASDAQ: GILD) with Outperform ratings and a $16 target and $51 target and Celgene Corp. (NASDAQ: CELG) and Genentech Inc. (NYSE: DNA) with Market Perform ratings and a $69 target and $85 target.
- CIBC initiated shares of WESCO International Inc. (NYSE: WCC) with a Sector Outperformer rating and $46 target. The firm believes lower estimates are already priced into shares and that the company's operating initiatives increase the chances for more stable margins in this environment.
- Deutsche Bank started shares of Wyndham Worldwide Corp. (NYSE: WYN) with a Buy rating and $41 target. The firm believes stability of the timeshare industry, international expansion and improved transparency will serve as catalysts for shares.
- Century Casinos Inc. (NASDAQ: CNTY) was initiated at Nollenberger with a Neutral rating, citing the underperformance of new properties and concerns from the smoking ban in Colorado; however, the firm believes the company is headed in the right direction.
OTHER INITIATIONS:
- Soleil started shares of Sunoco Inc. (NYSE: SUN) and Valero Energy Corp. (NYSE: VLO) with Buy ratings and targets of $96 and $88, and initiated shares of Tesoro Corp. (NYSE: TSO) with a Hold rating and $55 target.
- Rodman & Renshaw started shares of Labopharm Inc. (NASDAQ: DDSS) with a Market Perform rating.
- UBS resumed coverage on Kroger Co. (NYSE: KR) with a Buy rating and $34 target.
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