MOST NOTEWORTHY: SanDisk Corp (SNDK) was the only notable company initiated today:
- Nollenberger believes SanDisk Corp (NASDAQ: SNDK) is going through a "tough patch" due to oversupply in the market and feels Micron Technology (MU) offers a better risk/reward at current levels; the firm started SanDisk with a Neutral rating and $42 target.
OTHER INITIATIONS:
- WR Hambrecht started Universal Electronics (NASDAQ: UEIC) with a Hold on valuation.
- CIBC initiated Iron Mountain Inc (NYSE: IRM) with a Sector Performer.
- SuperValu (NYSE: SVU) was initiated at Credit Suisse with an Outperform rating. The firm expects investors to not fully appreciate SuperValu's robust earnings power and free cash flow following acquisition of Albertson's stores.
- RBC initiated Kayne Anderson Energy Development (NYSE: KED) with a Sector Perform as the firm believes limited publicly-available information on private investments makes valuations problematic.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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