MOST NOTEWORTHY: Delta Air Lines (DAL), Diana Shipping Inc (DSX), Adobe Systems Inc (ADBE), Eagle Materials, Inc (EXP), ACR Group (BRR) and Autodesk, Inc (ADSK) were today's noteworthy initiations:
- Goldman is positive on Delta Air Lines (NYSE: DAL), starting shares with a Buy rating and $25 target based on above average growth, best-in-class unit costs, free cash flow and less labor cost risk.
- Diana Shipping (NYSE: DSX) was started at JP Morgan with an Overweight rating based on valuation and positioning. Lazard started Diana with a Buy rating, expecting demand for dry bulk shipping will outperform supply through 2010.
- Soleil expects Adobe Systems (NASDAQ: ADBE) recently released Creative Suite 3 to be the near-and-medium term growth driver and started shares with a Buy rating.
- JP Morgan started Eagle Materials Inc (NYSE: EXP) with an Underweight rating, expecting a decline in wallboard industry profitability due to increased capacity and lower demand.
- B. Riley started ACR Group (AMEX: BRR) with a Buy rating calling the stock "cheap."
- Soleil believes a catch up on the Autodesk's (NASDAQ: ADSK) SEC filings and a strong Q1 will prove near-term catalysts and started shares off with a Buy rating and $56 target.
OTHER INITIATIONS:
- Banc of American started Verigy Ltd (NASDAQ: VRGY) with a Buy rating and $32 target.
- Stephens initiated Kaman Corp (NASDAQ: KAMN) with an Overweight rating and $34 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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