MOST NOTEWORTHY: Odyssey Re Holdings Corp (ORH) was today's only notable initiation:
- Shares of the reinsurance underwriter Odyssey Re Holdings Corp (NYSE: ORH) was initiated at Citigroup with a Sell rating and $39 target, citing high valuation, the impact from past legacy underwriting business and risk of further SEC investigation related to majority shareholder Fairfax Financial Holdings Ltd (FFH).
OTHER INITIATIONS:
- UBS started PetSmart inc (NASDAQ: PETM) with a Neutral rating and $35 target.
- Bear Stearns initiated Autodesk inc (NASDAQ: ADSK) with a Peer Perform rating.
- B. Riley started Design Within Reach Inc (NASDAQ: DWRI) with a Buy rating and $10 target.
- Goldman Sachs resumed coverage of AXA Financial ADS (NYSE: AXA) with a Buy rating.
- Credit Suisse started CB Richard Ellis Group Inc (NYSE: CBG) with an Outperform rating and $44 target.
Analyst summaries provided by
TheFlyOnTheWall.com (subscription required).