MOST NOTEWORTHY: This morning's noteworthy initiations included Nokia Corp (NOK), Fortune Brands, Inc (FO), Whirlpool Corp (WHR), Dick's Sporting Goods, Inc (DKS), Kona Grill, Inc (KONA):
- JP Morgan started Nokia Corp (NYSE: NOK) with an Overweight rating, believing the handset market is strong and expects gross profits to rise in 2007.
- Soleil wants to wait on the sidelines of Fortune Brands Inc (NYSE: FO), initiating shares with a Neutral rating, given the potential acquisition of Sweden's V&S Group along with the softness in the home and hardware segment.
- Soleil also started Whirlpool Corp (NYSE: WHR) with a Hold rating based on valuation, which they believe reflects the company's outlook through 2009.
- Nollenberger expects Dick's Sporting Goods (NYSE: DKS) will continue to outperform its peers, starting shares off with a Buy rating, and believes the recent pullback provides a compelling buying opportunity.
- KeyBanc is positive on Kona Grill's (NASDAQ: KONA) differentiated brand, compelling unit economics, positive SSS opportunity and growth, starting shares with a Buy rating...
OTHER INITIATIONS:
- Ceva, Inc (NASDAQ: CEVA) was initiated at CIBC with a Sector Outperform rating.
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