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Analyst initiations 4-23-07: AET, ALU and UNH initiated today

MOST NOTEWORTHY: UnitedHealth Group Inc (UNH), Aetna Inc (AET), Hercules Inc (HPC) and Alcatel-Lucent (ALU), were today's noteworthy initiations:
  • Jefferies started UnitedHealth Group inc NYSE: UNH) with a Hold rating and $48 target and said near-term risk is still present due to unfavorable reserve adjustments to the company's commercial risk business and high expectations for improvement in the company's commercial medical care ratio.
  • Aetna Inc (NYSE: AET) was also initiated by Jefferies with a Hold rating based on valuation.
  • Credit Suisse started Hercules Inc (NYSE: HPC) with an Outperform rating and $24 target.
OTHER INITIATIONS:
  • Cowen is positive on MIPS Technologies, Inc (NASDAQ: MIPS), starting the company with an Outperform rating, and expects a deal with Microchip Technology Inc (MCHP) to be announced soon.
  • JP Morgan initiated shares of Headwaters Inc (NYSE: HW) with a Neutral rating.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst initiations 2-05-07: Baldor Electric started with an Outperform

MOST NOTEWORTHY: Baldor Electric Co (BEZ) was today's most notable initiation:
  • Shares of Baldor Electric Co (NYSE: BEZ) were initiated by Baird with an Outperform rating and $42 target. The firm believes that Baldor's already-premium market position is strengthened by their acquisition of Rockwell's Power Systems. The firm believes that as the company starts to realize integration synergies, management's initial earnings accretion forecast of $0.10 in 2007 is conservative, earnings surprises will be likely and the company should be able to sustain their current valuation.

OTHER INITIATIONS:
  • Harris Interactive Inc (NASDAQ: HPOL) was initiated with a Buy rating and $7 target at Roth Capital. The firm believes Harris Interactive is positioned to take market share in market research as the company operates one of the largest online survey panels with more than 6 million members.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA-36.658,146.52
NASDAQ+3.481,756.03
S&P 500-3.55879.13

Last updated: July 11, 2009: 12:26 PM

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