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MOST NOTEWORTHY: Wilmington Trust, DiamondRock Hospitality and Omrix Biopharm were today's noteworthy initiations:
- B. Riley initiated Wilmington Trust (NYSE: WL) with a Neutral rating and $33 target and points out the company has greater exposure to construction and development loans than most small- and mid-cap banks.
- DiamondRock Hospitality (NYSE: DRH) was assumed with a Market perform rating and $13.50 target at Keefe Bruyette. The firm sees limited upside given expectations for continued moderation in RevPAR trends, limited operating margin expansion and an uncertain economic outlook.
- Rodman & Renshaw believes that the issues that have plagued Omrix Biopharm (NASDAQ: OMRI) are now largely reflected in shares and that the company has improved visibility on business fundamentals with solid execution. The firm assumed coverage with an Outperform rating and $18 target.
OTHER INITIATIONS:
- UBS initiated Millennium Pharma (NASDAQ: MLNM) with a Neutral rating and $16 target.
- Credit Suisse initiated Ryanair (NASDAQ: RYAAY) with a Neutral rating.
- Morgan Stanley started Brasken (NYSE: BAK) with an Underweight rating.
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