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Analyst initiations: ANF, ENG and WPP

MOST NOTEWORTHY: Abercrombie & Fitch, ENGlobal Corp and Wausau Paper were today's noteworthy initiations:
  • Morgan Keegan initiated Abercrombie & Fitch (NYSE:ANF) with a Market Perform citing lack of comp momentum and the outlook for consumer spending.
  • Jesup & Lamont expects ENGlobal's (NASDAQ:ENG) earnings momentum to remain in place due to sustained demand for energy products. Shares were initiated with a Buy rating and $13.25 target.
  • Soleil expects Wausau Paper (NASDAQ:WPP) shares to be driven by its value-added market focus, product innovation and improved mix. Shares were assumed with a Buy rating.
OTHER INITIATIONS:

Analyst initiations: ABCW, TOMO and SKIL

MOST NOTEWORTHY: Anchor Bancorp, TomoTherapy and Skillsoft Corp were today's noteworthy initiations:
  • Keefe Bruyette initiated Anchor Bancorp (NASDAQ: ABCW) with a Market Perform rating and $18 target, as they prefer to wait for credit and capital concerns to subside.
  • Jefferies believes TomoTherapy (NASDAQ: TOMO) should trade higher based on the company's strong new order growth and would be buyers at current levels. The firm started shares with a Buy rating and $17 target.
  • Skillsoft (NASDAQ: SKIL) was assumed with an Outperform rating at William Blair, as they believe the NETg acquisition will drive significant operating margin improvement in the coming years.
OTHER INITIATIONS:

Analyst initiations: MPEL, HELE, LHCG and OFG

MOST NOTEWORTHY: Melco PBL Entertainment, Helen of Troy, LHC Group and Oriental Financial were today's noteworthy initiations:
  • Jefferies initiated shares of Melco PBL Entertainment (NASDAQ: MPEL) with a Buy rating and $21 target, as they believe the possibility of A-Max, a VIP junket consolidator, moving up to 10 junkets to the Crown Casino could lead to short-term gains and notes that MPEL is the only Macau pure play in the U.S. stock market.
  • Jefferies also started shares of Helen of Troy (NASDAQ: HELE) with a Hold rating and $21 target, as they sees risks to near-term EPS from soft consumer demand and gross margin pressures.
  • Credit Suisse expects LHC Group's (NASDAQ: LHCG) rural-focused strategy and joint venture partnerships to drive organic growth and started shares off with an Outperform rating and $26 target.
  • Oriental Financial Group (NYSE: OFG) was initiated at B. Riley with a Neutral rating and $12.50 target. The firm does not expect significant multiple expansion from current levels given the slow Puerto Rican economy.
OTHER INITIATIONS:

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: 10:10 PM

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