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Analyst initiations 4-17-07: CC, DHI and GRMN initiated today

Posted Apr 17th 2007 11:12AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Best Buy (BBY), , D.R.Horton (DHI), Analyst Initiations

MOST NOTEWORTHY: Small-cap banks, Garmin Ltd (GRMN), Force Protection, Inc (FRPT), D.R. Horton, Inc (DHI) and Ryland Group, Inc (RYL) were today's noteworthy initiations:

Stanford initiated shares of American Community Bancshares (NASDAQ: ACBA), BNC Bancorp (NASDAQ: BNCN), Cooperative Bankshares, Inc (NASDAQ: COOP) and Yadkin Valley Financial Corp (NASDAQ: YAVY) with Buy ratings. The firm started Capital Bank Corp (NASDAQ: CBKN) and Southern Community Financial Corp (NASDAQ: SCMF) with Hold ratings. Stanford believes North Carolina is a great opportunity for investors who look for inexpensive community banks operating in growing markets.
Elsewhere, Garmin Ltd (NASDAQ: GRMN) was initiated with a Sector Outperformer at CIBC with a $67 target.
Thomas Weisel started Force Protection Inc (NASDAQ: FRPT) with an Overweight rating, as the firm believes the mine-resistant vehicle market is real and has staying power.
Morgan Stanley initiated both D.R. Horton, Inc (NYSE: DHI) and The Ryland Group, Inc (NYSE: RYL) with Equal Weight ratings.

OTHER INITIATIONS:

Clearwire Corp (NASDAQ: CLWR) was the most favored initiation today, with coverage started in at least nine firms: Merril, ThinkEquity, Jefferies and Stifel all started Clearwire with a Buy rating, Morgan Stanley and JP Morgan started it with an Overweight rating, Raymond James and Wachovia started it with an Outperform rating and Bear Stearns started shares of Clearwire with a Peer Perform rating.
Credit Suisse started Healthways, Inc (NASDAQ: HWAY) with an Outperform rating and $60 target.
Wachovia started DCT Industrial Trust Inc (NYSE: DCT) with a Market Perform rating.
Caris initiated Circuit City Stores, Inc (NYSE: CC) with an Average rating, as the firm believes Circuit City is still playing catch-up in the customer centered approach and services venues, and notes shares trade at premium earnings ratios to Best Buy Co, Inc (NYSE: BBY).