MOST NOTEWORTHY: YRC Worldwide Inc (YRCW), Baidu.com, Inc (BIDU), an several e-commerce names were today's more notable initiations:
- Prudential started YRC Worldwide Inc (NASDAQ: YRCW) with an Underweight rating and $41 target. The firm said recent organizational changes could be a distraction in what it expects to be a challenging first-half of 2007.
- Susquehanna views Baidu.com Inc (NASDAQ: BIDU) as a strategic holding in its China portfolio and expects the company's massive brand value to drive continuous growth; shares were initiated at Susquehanna with a Positive rating.
- Oppenheimer initiated three e-commerce names today:
- eBay Inc (NASDAQ: EBAY) was initiated with a Buy rating and $38 target
- Overstock.com, Inc (NASDAQ: OSTK) and Amazon.com, Inc (NASDAQ: AMZN) were initiated with Neutral ratings.
OTHER INITIATIONS:
- In addition to YRC Worldwide, Prudential initiated several companies in the transportation sector:
- Con-Way Inc (NYSE: CNW) was started with an Underweight rating and $47 target
- Canadian Pacific Railway (NYSE: CP) and Norfolk Southern (NYSE: NSC) were initiated with Overweight ratings
- Canadian National Railway (NYSE: CNI) was initiated with a Neutral rating and $47 target.
- Jefferies initiated Forest Oil Corp (NYSE: FST) with a Buy rating and $42 target.
- Citigroup believes aQuantive, Inc (NASDAQ: AQNT) will be one of the key beneficiaries of the strong secular growth in online advertising and they note that shares are trading in the lower half of its 52-week range; shares were initiated with a Buy rating and $33 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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