MOST NOTEWORTHY: In addition to Genomic Health (GHDX) and Intercontinental Hotels Group (IHG), airliners
Continental Airlines (CAL) and ExpressJet Holdings (XTJ) were some of today's most notable initiations:
- RBC Capital Markets started Genomic Health Inc (NASDAQ: GHDX) with an Underperform rating, with a $17 target. The firm views shares as fairly valued and believes competitive noise and FDA concerns will weigh on shares.
- HSBC started Intercontinental Hotels (NYSE: IHG) with an Overweight rating, believing asset sales and stronger than expected room growth could prove near-term positive catalysts.
- Soliel started both Continental Airlines (NYSE: CAL) and ExpressJet Holdings Inc (NYSE: XJT) with Sell ratings.
OTHER INITIATIONS:
- William Blair started Alexion Pharmaceuticals (NASDAQ: ALXN) with an Outperform rating. They believe Alexion's lead compound, Soliris, is the key driver of shareholder value, and they believe the company is well positioned to receive final FDA approval.
- Bear Stearns initiated Baldor Electric Company (NYSE: BEZ) with an Outperform rating.
- RBC initiated Hologic, Inc (NASDAQ: HOLX) with an Outperform rating.
- Citigroup started GMarket Inc (NASDAQ: GMKT) with a Sell rating and $18 target, citing valuation.
- Drew Industries, Inc (NYSE: DW) was initiated with a Buy rating and $35 target at Ferris Baker Watts.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). 
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MOST NOTEWORTHY: The exchange sector, Progenics Pharma, Tyco Electronics and PharMerica were today's noteworthy initiations:
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