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MOST NOTEWORTHY: Dreamworks Animation, Pharmasset and Vertex Pharmaceuticals were today's noteworthy initiations:
- Jefferies initiated Dreamworks Animation (NYSE: DWA) with a Hold rating and $25 target. The firm believes the company needs stronger-than-expected box office performance to drive material share appreciation, which they view as a risky bet given recent non-Shrek film performance, slower DVD sales and a tough economy.
- Merriman assumed coverage of Pharmasset (NASDAQ: VRUS) with a Buy rating, as they believe the current share price does not adequately reflect the company's strong clinical data, potential for clinical milestones, or potential for revenue generation. They believe shares could trade to a fair value range of $20-24 in the next 12 months.
- Merriman initiated shares of Vertex Pharmaceutials (NASDAQ: VRTX) with a Neutral rating, and recommends investors hold pending a greater understanding of clinical timelines and results for other HCV drug candidates.
OTHER INITIATIONS:
Yogi is right: Ninety percent of this (economics) game is half-mental
Is the market always right?
Comfort Zone Investing: How this all might play out
