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MOST NOTEWORTHY: Sigma Designs, Satyam and Genpact were today's noteworthy initiations:
- Deutsche Bank initiated shares of Sigma Designs (NASDAQ: SIGM) with a Buy rating and $62 target, as they believe the company can maintain its leadership position in the fast-growing IPTV and high-def DVD markets. Baird said Sigma's IPTV momentum is accelerating, Blu-ray demand in strong, and Ultrawideband is the next growth opportunity. The firm resumed coverage with an Outperform rating.
- Banc of America started shares of Satyam Computer Services (NYSE: SAY) with a Neutral rating and $39 target on valuation, as they believe better value exists in peers Cognizant Technology (NASDAQ: CTSH) and Infosys Technologies (NASDAQ: INFY).
- UBS initiated Genpact (NYSE: G) with a Neutral rating and $18 target on valuation.
OTHER INITIATIONS:
- Goldman resumed coverage of HealthSpring (NYSE: HS) with a Neutral rating and $23 target.
- Wachovia initiated Gentiva Health (NASDAQ: GTIV) with an Outperform rating.
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