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Analyst initiations: ARUN, BX and ESC

Posted Aug 13th 2007 12:24AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Reports, Analyst Initiations, Blackstone Group L.P (BX), Stocks to Buy, Stocks to Sell

MOST NOTEWORTHY: Aruba Networks (ARUN), the aesthetic energy devices sector and Emeritus Corp (ESC) were today's noteworthy initiations:

JP Morgan initiated shares of Aruba Networks (NASDAQ: ARUN) with a Neutral rating. The firm believes Aruba shares are fully valued at these levels and reflects strong growth with operating leverage.Pacific Crest believes Aruba, initiated with a Sector Perform rating and $19 target, is a strong alternative to Cisco Systems (NASDAQ: CSCO) in the WLAN market and its strong position as a point vendor makes the company an attractive acquisition candidate.

Leerink Swann estimates the aesthetic energy devices sector is likely to experience 20% revenue growth over the next five years. The firm finds Thermage (NASDAQ: THRM) a turnaround-story which has a compelling mix of revenues from disposable tips while Cynosure (NASDAQ: CYNO) is capitalizing successfully on new product cycles with Affirm and SmartLipo. Palomar Medical Technologies (NASDAQ: PMTI) is viewed as the IP leader for hair removal products; Leerink initiated Thermage and Cynosure with Outperform ratings and Palomar with a Market Perform rating.

Emeritus Corp (AMEX: ESC) was initiated with a Buy rating and $33 target at Stifel, which believes ESC has one of the best cash earnings growth stories among any of the traded senior housing companies.

OTHER INITIATIONS:

CE Unterberg started shares of Synchronoss (NASDAQ: SNCR) with a Buy rating and $41 target.

Rodman & Renshaw started shares of Array Biopharma (NASDAQ: ARRY) and Tapestry Pharma (NASDAQ: TPPH) with Market Outperform ratings and an $18 target and $5 target, respectively.

Blackstone Group (NYSE: BX) was initiated with an Overweight rating and $41 target at Morgan Stanley.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst initiations 5-23-07: BECN, LEAP, MHP and PCS

Posted May 23rd 2007 11:37AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, McGraw-Hill Companies (MHP), Analyst Initiations

MOST NOTEWORTHY: Bluefly, Inc (BFLY), Leap Wireless International, Inc (LEAP), Kona Grill, Inc (KONA), MetroPCS Communications, Inc (PCS) and Beacon Roofing Supply (BECN) were today's more noteworthy initiations:

Merriman believes FY07 is a transitional year for Bluefly (NASDAQ: BFLY), starting the company with a Neutral rating, and finds the stock fairly valued at current levels.

Robert W. Baird expects growth at Leap Wireless International (NASDAQ: LEAP) to be fueled by upcoming market launches, starting shares with an Outperform rating.

Thomas Weisel is positive on Kona Grill's (NASDAQ: KONA) expansion, same-store sales growth, ramping unit volumes and corporate G&A leverage, starting shares with an Outperform rating.

Robert W. Baird expects MetroPCS Communications (NYSE: PCS) growth to be fueled by upcoming market launches and initiated shares with an Outperform rating and $14 target.

Needham believes shares of Beacon Roofing Supply (NASDAQ: BECN) have overreacted to the weak residential new construction market, which represents only 20% of business, and started shares with a Buy rating and $22 target...

OTHER INITIATIONS: