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MOST NOTEWORTHY: Diana Shipping, Avanex and Fushi International were today's noteworthy initiations:
- Stephens believes Diana Shipping's (NYSE: DSX) current share price represents an attractive entry point for investors. Shares were started with an Overweight rating and $40 target.
- Avanex (NASDAQ: AVNX) was initiated with a Buy rating at Merriman. The firm believes the recovery in optical that began in late 2005 is in a relatively early stage and that new product introductions and strong optical trends will drive growth and leverage.
- Jefferies assumed coverage of Fushi International (NASDAQ: FSIN) with a Buy rating and $20 target and believes the telecom infrastructure build-out in emerging markets, particularly China, and high copper prices continue to create opportunities for the company.
OTHER INITIATIONS:
- Mattel (NYSE: MAT) was assumed at Caris with an Above Average rating and $25 target.
- Lehman initiated Garmin (NASDAQ: GRMN) with an Equal Weight rating.
- Keefe Bruyette initiated Invesco (NYSE: IVZ) with an Outperform ratin gand $28 target.
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