MOST NOTEWORTHY:

• Keefe Bruyette initiated coverage on Exchange Sector: The firm started shares of CME Group Inc (NYSE: CME), NYMEX Holdings Inc (NYSE: NMX) and NYSE Euronext Inc (NYSE: NYX) with Outperform ratings and a $669 target, $147 target and $90 target, respectively. The firm also started shares of Investment Technology Group (NYSE: ITG), Nasdaq Stock Market Inc (NASDAQ: NDAQ) and IntercontinentalExchange Inc (NYSE: ICE) with Underperform ratings and a $47 target, $36 target and $158 target, respectively, and shares of Knight Capital Group (NASDAQ: NITE) with an Underperform rating and $13 target.
  
• Progenics Pharmaceuticals (NASDAQ: PGNX) was added to Friedman Billings' Top Picks list and its Outperform rating was maintained. The firm has a high degree of confidence in the success of the MNTX Ph III studies in post-operative ilieus, as well as the FDA approval of the subcutaneous injection in terminally ill patients with opiod-induced constipation around the 1/31/07 PDUFA date.
• RBC believes margin expansion will drive long-term appreciation in Tyco Electronics Ltd (NYSE: TEL) and started shares with an Outperform rating and $41 target.
• PharMerica Corporation (NYSE: PMC) was initiated with an Underperform rating at Bear Stearns. The firm believes PMC will be pressured by customer losses and generic reimbursement cuts and sees shares trading in $12-$13 range.

• Ryanair Holdings (NASDAQ: RYAAY) was initiated with a Market Outperform rating at Avondale.u
• Banc of America initiated shares of Town Sports International (NASDAQ: CLUB) with a Sell rating and $15 target.
  
• Goldman started shares of Genesis Lease Ltd (NYSE: GLS) and Aircastle Ltd (NYSE: AYR) with Neutral ratings.

Analyst initiations 9-7-07: Exchange sector, PGNX, TEL and PMC originally appeared on BloggingStocks on Fri, 07 Sep 2007 11:10:00 EST. Please see our terms for use of feeds.

• 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.

• 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 initiations 3-07-07: Continental Arilines & Intercontinental Hotels were initiated today originally appeared on BloggingStocks on Wed, 07 Mar 2007 11:30:00 EST. Please see our terms for use of feeds.