MOST NOTEWORTHY:

• JMP Securities initiated Garmin Ltd (NASDAQ: GRMN) with a Market Outperform and $60 target, saying that Garmin will benefit from strong GPS unit growth rates, a pick-up in aviation growth, also noting that checks indicate Garmin sales were strong over the holiday period.

• Soleil Securities started USA Mobility (NASDAQ: USMO) with a Sell rating and $11 target, as they believe USA Mobility is overvalued in a deteriorating industry.

• USB initiated Level 3 Communications (NASDAQ: LVLT) with a Neutral rating and $7 target.

• First Albany started Quest Software (NASDAQ: QSFT) with a Neutral rating and $17 target, expecting volatile shares in the near-term due to the options investigation, but expects a resolution in 2007.

• BBN&T initiated NutriSystem Inc (NASDAQ: NTRI) with a Buy rating and $84 target. The firm believes NutriSystem is well positioned to sustain healthy earnings growth given consumer weight problems, along with the effectiveness and low consumer awareness of their program.

Analyst initiations 1-19-07: Garmin started with an Outperform originally appeared on BloggingStocks on Fri, 19 Jan 2007 11:29:00 EST. Please see our terms for use of feeds.