MOST NOTEWORTHY: Alcoa (AA), Rigel Pharma (RIGL), Isis Pharma (ISIS), Cytokinetics (CYTK) and F5 Networks (FFIV) were today's noteworthy initiations:
- RBC believes shares are expensive, but feels Alcoa (NYSE: AA) has put itself in play and a bid for the company is possible. The firm resumed coverage with a Sector Perform rating and a $51 target.
- Credit Suisse initiated Rigel Pharmaceuticals (NASDAQ: RIGL) with an Outperform rating, believing R788 in ITP alone justifies current value, while RA and pipeline provide potential upside.
- Isis Pharmaceuticals (NASDAQ: ISIS) was initiated with a Buy rating and $17 target at Jefferies; the firm believes Isis's pipeline holds promise and appears under appreciated at the current valuation.
- Credit Suisse is positive on Cytokinetics (NASDAQ: CYTK) congestive heart failure candidate CK-453 and views the market as undeserved, starting shares with an Outperform rating and $15 target.
- Unterberg initiated shares of F5 Networks (NASDAQ: FFIV) with a Market Perform based on valuation...
OTHER INITIATIONS:
- Banc of America started Grant Prideco (NYSE: GRP) share with a Buy rating and $67 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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