MOST NOTEWORTHY: HealthSpring (HS), CoPart (CPRT), Multi Fineline Electronix (MFLX) and Global Traffic Network (GNET) were today's noteworthy initiations:
- HealthSpring (NYSE: HS) was initiated with a Neutral rating and $20 target at Banc of America, as the firm doesn't expect earnings growth to recover until 2009.
- Rochdale Research started CoPark (NASDAQ: CPRT) with a Buy and $36 target yesterday. The firm said CoPark is in an excellent competitive position and expects growth to re-accelerate as the company integrates and expands its non-U.S. platform.
- Needham reinstated shares of Multi Fineline Electronix (NASDAQ: MFLX) with a Buy rating and $13 target, as the firm believes the current valuation overly discounts the company's opportunities with Sony-Ericsson (SNE/ERIC), Apple (AAPL), and the likelihood of stability at Motorola (MOT).
- Oppenheimer initiated shares of Global Traffic Network (NASDAQ: GNET) with a Buy rating and $9.50 target as the firm believes the company's expansion into new territories such as Canada and the UK should enable double-digit revenue and cash flow growth for the long term.
OTHER INITIATIONS:
- Goldman Sachs reinstated shares of Qiagen (NASDAQ: QGEN) with a Neutral rating.
- Raymond James initiated shares of Research in Motion (NASDAQ: RIMM) with an Outperform rating and $275 target.
- BMO Capital initiated shares of INVESTools (NASDAQ: SWIM) with an Outperform rating.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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