MOST NOTEWORTHY: Ingram Micro (IM), SYNNEX Corp (SNX), Yahoo! (YHOO), Macquarie Infrastructure (MIC) and Polypore International (PPO) were today's noteworthy initiations:
- Banc of America assumed coverage of Ingram Micro (NYSE: IM) with a Buy rating and $23 target, as the firm is positive on the company's balanced growth and margin expansion.
- Banc of America also initiated shares of SYNNEX Corp (NYSE: SNX) with a Buy rating and $24 target, as they believe cost synergies and mix in 2007 will drive 2008 leverage and share appreciation.
- ThinkEquity transferred coverage of Yahoo! (NASDAQ: YHOO) with an Accumulate rating and cut its target to $27. ThinkEquity believes Yahoo!'s challenges, which include employee turnover risk, slower user growth, competitive pressures and limited upside in search, are unlikely to be fixed near-term by the new team of management.
- Macquarie Infrastructure (NYSE: MIC) was initiated with a Buy rating and $51 target at Citigroup, as the firm believes management fee concerns are priced into shares and that the recent acquisition of Mercury Air and San Jose Jet Center will drive a 6% increase in dividend by the end of 2007.
OTHER INITIATIONS:
- Lehman Brothers initiated shares of Blackstone Group (NYSE: BX) with an Overweight rating and $32 target.
Analyst summaries provided by
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