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MOST NOTEWORTHY: Amazon.com, Altria Group and Skilled Healthcare were today's noteworthy initiations:
- Canaccord Adams expects Amazon.com (NASDAQ: AMZN) growth to be driven by its expanding international reach, mix shift to third-party revenue, product innovation, and category expansion. The firm initiated shares with a Buy rating and $78 target.
- UBS is positive on Altria's (NYSE: MO) growth, low likelihood of downward EPS revisions, and best-in-class cash flow distribution; shares were started with a Buy rating.
- Skilled Healthcare (NYSE: SKH) was initiated with an Outperform rating at Morgan Keegan, as they believe nursing home reimbursement risk is already reflected in its valuation.
OTHER INITIATIONS:
- KeyBank assumed Callaway Golf (NYSE: ELY) with a Buy rating and $19 target.
- Credit Suisse initiated Intuit (NASDAQ: INTU) with an Outperform rating and $35 target.
- Broadpoint initiated Novell (NASDAQ: NOVL) with a Buy rating.
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