MOST NOTEWORTHY: Three consumer financial services companies, CBS Corp (CBS) and Dress Barn, Inc (DBRN) were today's noteworthy initiations:
- Calyon initiated three consumer financial services companies:
- American Express Co (NYSE: AXP) was initiated with a Buy rating and $67 target, based on valuation.
- Capital One Financial Corp (NYSE: COF) was initiated with an Add rating, as the firm believes shares should be valued in-line with comparable banks, but feels the best investors should hope for is $90/share by year-end given the current market conditions.
- MasterCard Inc (NYSE: MA) was started with an Add rating and $123 target, as the firm believes shares should perform well in an environment in which concerns over credit risk remain paramount.
- CBS Corp (NYSE: CBS) was initiated with an Outperform rating at Wachovia, which expects accelerated growth in 2008.
- CIBC started Dress Barn Inc (NASDAQ: DBRN) with a Sector Performer rating, citing valuation.
OTHER INITIATIONS:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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