MOST NOTEWORTHY: Invesco, Visa and Netscout Systems were today's noteworthy initiations:

• Keefe Bruyette believes Invesco's (NYSE:IVZ) initiatives will drive significant revenue and operating leverage to any improvement in the operating environment. The firm started shares with an Outperform rating and $28 target. Visa was started ast Cowen with an Outperform rating, as they are positive on the Visa's growth prospects and attractive business model.
  
• Keefe Bruyette also recommends owning Visa (NYSE:V), assuming coverage with an Outperform rating and $80 target, and established FY08, FY09, and FY10 EPS estimates of $1.89, $2.33 and $2.80.
  
• Netscout Systems (NASDAQ:NTCT) was initiated at ThinkEquity with a Buy rating and $13 target. ThinkEquity believes Netscout is well positioned to outperform and win share in its addressable market niche following the Network General acquisition. Additionally, the firm views NTCT as an attractive takeover candidate for larger infrastructure management players.

OTHER INITIATIONS:

• JP Morgan initiated Signature Bank (SBNY) with a Neutral rating.
  
• Wendy's (WEN) was reinstated at Goldman with a Sell rating and $21 target.
  
• Needham started NeuStar (NSR) with a Hold rating.

Ever wonder whether there is a central authority managing all the telephone numbers, enabling the dynamic routing of calls among thousands of competing communications service providers? There is, you know, and it's headquartered in Sterling, Virginia.

NeuStar Inc (NYSE: NSR) provides services to the North American communications industry and to Internet service providers around the world. In North America, the firm manages the database of area codes and phone numbers used by carriers to route calls. On the Web, it operates a registry of domain addresses. The company is a leading provider of clearinghouse services for such telecom carrier functions as ordering, service provisioning, billing and customer service. Clients include Verizon Communications (NYSE: VZ), Sprint Nextel Corp. (NYSE: S) and AT&T, Inc. (NYSE: T).

NeuStar pleased the Street last week, when it announced preliminary Q1 EPS of 21-22 cents and revenues of $96.5-$97.5 million. Analysts had been looking for 22 cents and $97.0 million. Management also affirmed FY07 EPS of $1.04-1.09 ($1.07 consensus) and revenues of $428-$438 million ($433.9M consensus).