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.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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