MOST NOTEWORTHY: Apple (AAPL), large-cap semis, and CDC Corp (CHINA) were today's noteworthy initiations:
- Apple (NASDAQ: AAPL) was initiated with a Buy rating and $160 target at Banc of America, as the firm still sees a significant amount of upside in the stock from Mac share gains, strong iPod unit growth, and the iPhone, which they believe is being underestimated.
- Caris believes investors should focus on companies with strong product cycles that are gaining market share. They resumed coverage of Intel (NASDAQ: INTC), Texas Instruments (NASDAQ: TXN) and National Semiconductor (NASDAQ: NSM) with Above Average ratings, and resumed Advanced Micro (NYSE: AMD) with a Sell rating; Caris started Intel with a $26 target, Texas Instruments with a $41 target, National Semi with a $29 target, and AMD with a $10 target.
- CDC Corp (NASDAQ: CHINA) was initiated at Piper Jaffray with an Outperform rating and $11.50 target.
OTHER INITIATIONS:
- BMO Capital started shares of NuVasive (NASDAQ: NUVA) with an Outperform rating and $33 target.
- Raymond James initiated shares of Petro-Canada (NYSE: PCZ) with an Outperform rating.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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