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Analyst initiations: FSLR, JASO, ALU, NOK and ERIC

MOST NOTEWORTHY: First Solar, JA Solar, Alcatel-Lucent, Nokia and Ericsson were today's noteworthy initiations:
  • First Solar (NASDAQ: FSLR) and JA Solar Holdings (NASDAQ: JASO) were initiated with Buy ratings and targets of $160 and $61 at Collins Stewart. Collins Stewart sees room for margin expansion and is positive on First Solar after channel checks; the firm expects JA Solar to expand capacity given its long-term supply agreements with four wafer suppliers.
  • Merrill Lynch started shares of Alcatel-Lucent (NYSE: ALU) with a Sell rating, citing a lack of revenue growth prospects.
  • The firm also started shares of Nokia Corporation (NYSE: NOK) with a Buy rating, as they believe the company's share gains and margin expansion will continue.
  • Merrill also resumed coverage of Ericsson (NASDAQ: ERIC) with a Neutral rating, expecting high single digit earnings and share growth, but not enough for a Buy rating.
OTHER INITIATIONS:

Analyst initiations 3-14-07: Time Warner Cable & Tim Hortons initiated today

MOST NOTEWORTHY: Time Warner Cable (TWC) and Molecular Insight Pharmaceuticals (MIPI) were today's more notable initiations:
  • Time Warner Cable (NYSE: TWC) was initiated at Bernstein with an Outperform rating and $46 target, citing a compelling diversification alternative for cable/CMCS investors. Goldman started Time Warner Cable with a Neutral rating and $44 target.
  • Molecular Insight Pharmaceuticals Inc (NASDAQ: MIPI) was initiated at RBC with an Outperform rating and $18 target. RBC said Molecular Insight is a leader in developing and commercializing superior radiopharmaceuticals for the treatment and management of life-threatening diseases. Jefferies initiated shares of Molecular Insight with a Buy rating and $20 target, saying Zemiva has blockbuster potential.
OTHER INITIATIONS:
  • UBS started Amedisys, Inc (NASDAQ: AMED) with aBuy rating and $39 target.
  • Goldman Sachs initiated TransCanada (NYSE: TRP) with a Buy rating.
  • Credit Suisse initiated Tim Hortons Inc (NYSE: THI) with an Outperform rating.
  • Pacific Growth initiated Ormat Technologies, Inc (NYSE: ORA) with a Buy rating.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA+20.0310,246.97
NASDAQ-2.982,151.08
S&P 500-0.071,093.01

Last updated: November 10, 2009: 07:15 PM

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