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Analyst initiations 6-4-07: Guess initiated with Buy

Posted Jun 4th 2007 11:53AM by Melly Alazraki (RSS feed)
Filed under: Analyst Initiations

MOST NOTEWORTHY: Leap Wireless (LEAP), Cergaon Networks (CRNT), Cinemark (CNK), Regal Entertainment (RGC) and Ocean Power Tech (OPTT) were today's noteworthy initiations:

Leap Wireless International Inc. (NASDAQ: LEAP) was initiated with an Outperform rating and $103 target at Pacific Crest, as the firm believes the company's long-term opportunity with new-market expansion is underappreciated.
Pacific Crest also initiated shares of Ceragon Networks Ltd. (NASDAQ: CRNT) with an Outperform rating and $12 target, as the firm believes accelerating wireless data growth is driving backhaul demand.
Cinemark Holdings Inc. (NYSE: CNK) was initiated with an Overweight rating at Morgan Stanley, a Buy rating and $21 target at Banc of America and a Buy rating at Merrill Lynch; Banc of America believes the current box office strength could drive upside to estimates.
Morgan Stanley also initiated shares of Regal Entertainment Group (NYSE: RGC) with an Equal Weight rating.
Ocean Power Technologies Inc. (NASDAQ: OPTT) was initiated with a Buy rating and $24 target at Banc of America and a Neutral rating at First Albany.

OTHER INITIATIONS:

Telanetix Inc. (NASDAQ: TNXI) was initiated with a Buy rating and $8.50 target at Kaufman Bros, as the firm believes the company's market opportunity is significant and thinks it could be an interesting acquisition target if the telepresence market development accelerates.
Banc of America initiated shares of OceanFreight Inc. (NASDAQ: OCNF) with a Buy rating and $23 target.
Goldman Sachs initiated shares of Kinder Morgan Energy Partners (NYSE: KMP) with a Neutral rating and $54 target and shares of Kinder Morgan Management (NYSE: KMR) with a Neutral rating and $53 target.
Deutsche Bank initiated shares of Guess Inc. (NYSE: GES) with a Buy rating and $49 target.