MOST NOTEWORTHY: The more notable initiations today included THQ Inc (THQI), LaSalle Hotel Properties (LHO) and OfficeMax Inc (OMX):
- William Blair started THQ Inc (NASDAQ: THQI) with an Outperform rating, as they are positive on shares based on earnings upside potential from the new video game cycle.
- RBC initiated shares of LaSalle Hotel Properties (NYSE: LHO) with an Outperform rating and $52 target, as the firm expects growth to be driven by portfolio repositioning efforts and renovations.
- OfficeMax Inc (NYSE: OMX) was initiated at Bear Stearns with a Peer Perform rating citing a balanced risk/reward.
OTHER INITIATIONS:
- Lehman Brothers initiated both AK Steel Holding Corp (NYSE: AKS) and Steel Dynamics Inc (NASDAQ: STLD) with Equal Weight ratings.
- Wachovia started Beazer Homes USA Inc (NYSE: BZH) with a Market Perform rating, saying the company has few discernible competitive advantages over other public homebuilders and lacks catalysts.
- Cowen initiated Rackable Systems Inc (NASDAQ: RACK) with a Neutral rating.
- Bear Stearns re-initiated Tiffany & Co (NYSE: TIF) with a Peer Perform rating.
- Leerink Swann started Align Technology (NASDAQ: ALGN) with an Outperform rating, with a range of $21-$23, believing the company's Invisalign technology is well positioned for renewed growth.
- Bernstein initiated Murphy Oil Corp (NYSE: MUR) with an Outperform rating.
- Cascade Financial Corp (NASDAQ: CASB) was initiated with a Hold rating and $19 target at Sandler.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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