MOST NOTEWORTHY: AstraZeneca (AZN), Ametek (AME), InterNAP Network Services (INAP) and Rosetta Genomics (ROSG) were today's noteworthy initiations:
- Cowen believes AstraZeneca (NYSE: AZN) faces challenges from patent expirations, patent challenges, high-risk pipeline and value creation from deals, and initiated shares with a Neutral rating.
- Ametek (NYSE: AME) was initiated at Friedman Billings with an Outperform rating and $44 target, as the firm believes AME has turned into a collection of niche-oriented high-value-added manufacturers of precision instrumentation, resulting in a high-margin, high-return business with above average growth.
- InterNAP (NASDAQ: INAP) was initiated at Thomas Weisel with an Overweight rating, as the firm is positive on INAP's unique service offerings, VitalSteam acquisition opportunities, high growth customers, and improving collocation and bandwidth demand fundamentals.
- Cantor expects Rosetta Genomics (NASDAQ: ROSG) to launch the world's first microRNA-based cancer diagnostic in the second-half of 2008 with a market of $200 million, and initiated shares with a Buy rating and $15 target.
OTHER INITIATIONS:
- Duke Energy (NYSE: DUK) was initiated with a Market Perform rating at BMO Capital.
- Merrill Lynch initiated shares of JMP Group (NYSE: JMP) with a Buy rating.
- UBS initiated shares of Itron (NASDAQ: ITRI) with a Neutral rating and $82 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
MOST NOTEWORTHY: Halozyme Therapeutics (HALO), Rosetta Genomics (ROSG), U.S. Steel (X) and BioFuel Energy (BIOF) were today's noteworthy initiations:
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