MOST NOTEWORTHY: Total Systems, Capital Products Partners and Ashford Hospitality were today's noteworthy initiations:
- Stephens initiated Total Systems (NYSE: TSS) with an Overweight rating and $28 target. The firm thinks investor concerns about the negative impact of economic weakness are overdone.
- JP Morgan believes Capital Products' (NASDAQ: CPLP) fixed-rate contract coverage and fixed operating costs should provide stable cash distributions to unit holders. The firm assumed coverage with an Overweight rating.
- Ashford Hospitality (NYSE: AHT) was initiated at UBS with a Buy rating and $7 target.
OTHER INITIATIONS:
- Bank of Kentucky (OTC: BKYF) was initiated with an Outperform rating and $29 target at Baird.
- Morgan Stanley initiated Longs Drug Stores (NYSE: LDG) with an Equal Weight rating.
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