MOST NOTEWORTHY: Kenexa Corp (KNXA), CACI International (CAI), SI International (SINT), Tyco Electronics (TEL) and YUM! Brands (YUM) were today's noteworthy initiations:
- ThinkEquity started Kenexa Corp (NASDAQ: KNXA) with an Accumulate rating, citing the company's attractive business model that can deliver high-value, high-margin content, but questions the company's plans to compete with best-of-breed vendors.
- Banc of America initiated CACI International (NYSE: CAI) with a Neutral, citing the challenging budget environment and margin trends.
- Banc of America believes shares of SI International (NASDAQ: SINT) offers a compelling risk/reward given the improving civilian funding environment and upside potential from recent M&A activity, and assumed coverage with a Buy rating and $38 target.
- Tyco Electronics (NYSE: TEL) was started with a Hold rating at Deutsche Bank, citing risks to the company's potential turnaround.
- Yum! Brands (NYSE: YUM) was re-initiated with an Outperform rating at Friedman Billings on valuation and considers any stock price weakness from the increased costs as a buy opportunity.
OTHER INITIATIONS:
- Banc of America assumed the following Government IT Services companies with Buy ratings: SRA International (NYSE: SRX) and SI International.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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