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Analyst initiations: WX, MYGN, CYPB and KNOL

MOST NOTEWORTHY: Aerospace stocks, WuXi Pharma, Myriad Genetics, Cypress Bioscience and Knology were today's noteworthy initiations:
  • LYON initiated shares of aerospace stocks including Goodrich Corporation (NYSE: GR), TransDigm Group Inc (NYSE: TDG) and Triumph Group Incorporated (NYSE: TGI) with Add ratings and a $74 target, $45 target and $90 target, respectively.
  • WuXi Pharmatech (NYSE: WX) was started with a Hold rating and $29 target at Jefferies on valuation. JP Morgan started shares with a Neutral rating and Credit Suisse initiated shares with an Outperform rating.
  • Myriad Genetics Inc (NASDAQ: MYGN) was started with a Hold rating and $50 target at Citigroup, as the firm is cautious on the Phase III Flurizan results and does not recommend putting new money here at these levels.
  • Citigroup also initiated shares of Cypress Biosciences Inc (NASDAQ: CYPB) with a Buy rating and $22 target as the firm believes Milnacipran has sufficient database for approval and is capable of gaining meaningful market share as firstline therapy.
  • Knology Inc (NASDAQ: KNOL) was initiated with a Buy rating and $25 target at BWS Financial, as the firm believes the company's growth potential is greater than other cable companies through a business plan that allows it to have operations in all regions of the U.S.
OTHER INITIATIONS:

Analyst upgrades 8-31-07: PSSI, ROK, OTEX, SAFM and MNT

MOST NOTEWORTHY: PSS World Medical (PSSI), Rockwell (ROK), Open Text (OTEX), Sanderson Farms (SAFM) and Mentor (MNT) were today's noteworthy upgrades:
  • PSS World Medical (NASDAQ: PSSI) was upgraded to Outperform from Neutral at Robert W. Baird. Baird said the quarter was impacted by one-time items and that core operations remain strong while private label, home care and HCIT initiatives may contribute to substantial margin improvement.
  • Friedman Billings added Rockwell Automation (NYSE: ROK) to its Top Picks list based on valuation and growth drivers.
  • Merrill Lynch upped shares of Open Text Corporation (NASDAQ: OTEX) to Neutral from Sell. Kaufman Brothers upgraded shares of the stock to Buy from Hold with a $27 target to reflect the company's better-than-expected Q4 results.
  • Sanderson Farms Inc (NASDAQ: SAFM) was upgraded to Strong Buy from Strong Sell on valuation and accelerating sales of the company's poultry products.
  • The firm upgraded shares of Mentor Corporation (NYSE: MNT) to Buy from Sell given the company's good performance and low risk.
OTHER UPGRADES:
  • Cache Inc (NASDAQ: CACH) was upgraded to Buy from Neutral with a $19 target at First Albany and to Outperform from Market Perform at Piper Jaffray.
  • Gabelli upgraded shares of Diageo (NYSE: DEO) to Buy from Hold.
  • RBC Capital Markets raised shares of Knology Inc (NASDAQ: KNOL) to Outperform from Sector Perform.
  • Goldman Sachs upgraded shares of Maxygen Inc (NASDAQ: MAXY) to Neutral from Sell.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst initiations 5-17-07: DAL, NWS, TFSM and VCLK

MOST NOTEWORTHY: The more noteworthy companies initiated today were ValueClick, Inc (VCLK), Delta Air Lines, Inc (DAL), 24/7 Real Media, Inc (TFSM), Knology, Inc (KNOL) and Allos Therapeutics, Inc (ALTH):
  • Banc of America believes ValueClick Inc (NASDAQ: VCLK) is well-positioned for continued strong secular online ad growth and initiated shares with a Buy rating and $35 target.
  • Lehman is positive on Delta Air Lines (NYSE: DAL) valuation and earnings growth, starting shares with an Overweight rating and $26.50 target.
  • Banc of America believes 24/7 Real Media's (NASDAQ: TFSM) valuation is full at current levels and started shares with a Neutral rating and $12 target.
  • RBC believes shares of Knology (NASDAQ: KNOL) are fairly-valued and would wait for a pullback, initiating shares with a Sector Perform rating.
  • ThinkEquity started Allos Therapeutics (NASDAQ: ALTH) with a Buy rating and expects significant news flow data on PDX in 2007-2008. In addition, the firm expects to hear an update on enrollment from the PROPEL study, which could be ahead of expectations, and Phase I data in NSCLC in the fall...
OTHER INITIATIONS:
  • Goldman resumed coverage with Mylan Laboratories (NYSE: MYL) and Exco Resources, Inc (XCO) with Neutral ratings.
  • Merrill Lynch resumed coverage of News Corp (NYSE: NWS) with a Buy rating.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA+17.9110,244.85
NASDAQ-1.582,152.48
S&P 500+0.331,093.41

Last updated: November 10, 2009: 03:45 PM

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