MOST NOTEWORTHY: aQuantive Inc(AQNT) and Vanda Pharmaceuticals Inc (VNDA) were today's most notable initiations:
- CIBC initiated aQuantive Inc (NASDAQ: AQNT) with a Sector Performer rating and $30 target. The firm believes aQuantive's key challenge is margin pressure from the rising cost of talent, but they expect strong fourth-quarter results.
- Friedman Billings is positive on Vanda Pharmaceuticals Inc's (NASDAQ: VNDA) lead drug candidate, atypical antipsychotic iloperidone, which showed positive data in Ph III studies for schizophrenia; Friedman started the company with an Outperform rating and $40 target.
OTHER INITIATIONS:
- Canaccord started Unica Corp (NASDAQ: UNCA) with a Buy rating and $15 target.
- Oppenheimer initiated Community Bancorp NV (NASDAQ: CBON) with a Buy rating and $38 target.
- Bank of America initiated ConAgra Foods Inc (NYSE: CAG) with a Neutral rating and $27 target based on valuation.
- Stephens put a $20 target on ACA Capital Holdings Inc (NYSE: ACA) and started the company with an Overweight rating.
- Friedman Billings says Sepracor Inc's (NASDAQ: SEPR) Lunesta faces generic challenges and that 2007 guidance may be hard to achieve; the firm started Sepracor with a Market Perform rating and $58 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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