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Analyst initiations: TWTC, VRGY and EAT

MOST NOTEWORTHY: Time Warner Telecom, Verigy and Brinker were today's noteworthy initiations:
  • Friedman Billings expects Time Warner Telecom (NASDAQ: TWTC) to post free cash flow growth above consensus expectations and believes carrier spending-concerns are overdone. The firm initiated shares with an Outperform rating and $20 target.
  • Oppenheimer initiated Verigy (NASDAQ: VRGY) with a Perform rating and $23 target, pointing to the company's tough year over year comps as PC unit growth slows in 2008 as well as its exposure to flash memory chips.
  • Brinker (NYSE: EAT) was assumed with a Neutral rating at Suntrust, as they expect Chili's to continue to be impacted by weak consumer spending.
OTHER INITIATIONS:
  • Baird assumed Ulta Salon (NASDAQ: ULTA) with an Outperform rating and $18 target.
  • Lions Gate (NYSE: LGF) was initiated at Jefferies with a Hold rating and $10-$11 target.
  • Landstar System (NASDAQ: LSTR) was initiated with a Market Perform rating at Morgan Keegan.

Market highlights for next week: TiVo (TIVO), Novell (NOVL) to report

Monday August 27
Tuesday August 28
Wednesday August 29
  • TiVo Inc (NASDAQ: TIVO) to report Q2 earnings; conference call at 5pm.
  • Novell Inc (NASDAQ: NOVL) to report Q3 earnings; conference call at 5pm.
Thursday August 30
Friday August 31
  • Blyth Inc (NYSE: BTH) to hold Investor Q&A conference call at 2pm.

Symbol Lookup
IndexesChangePrice
DJIA+46.7810,293.75
NASDAQ+15.822,166.90
S&P 500+5.661,098.67

Last updated: November 11, 2009: 04:04 PM

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