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Analyst initiations: ATHN, MRVL, BRCM and NVDA

MOST NOTEWORTHY: Athenahealth, Marvell Technology, Broadcom and Nvidia were today's noteworthy initiations:
  • Athenahealth (NASDAQ: ATHN) was initiated with a Neutral rating at Goldman Sachs. Jefferies started shares of the stock with a Buy rating and $46 target, as they believe their estimates could prove conservative given potential upside from new and existing physicians adopting athenaClinicals.
  • Kaufman Bros initiated Marvell Technology (NASDAQ: MRVL) with a Hold rating and $18 target, as they believe near-term growth prospects remain uncertain and recommends waiting for more favorable entry points.
  • The firm also initiated Broadcom Corporation (NASDAQ: BRCM) with a Hold rating and $35 target, and believes the company's growth prospects are priced into shares following the recent rally, and started shares of Nvidia Corporation (NASDAQ: NVDA) with a Buy rating and $42 target, as they believe the company's growth opportunity and competitive strength remain intact and would be buyers at current levels.
OTHER INITIATIONS:

Analyst initiations 2-22-07: E*Trade started with a Buy rating at UBS

MOST NOTEWORTHY: Plexus Corp (PLXS) and Ameristar Casinos Inc (ASCA) were some of today's most notable initiations:
  • Lehman initiated Plexus Corp (NASDAQ: PLXS) with an Underweight rating and $15.50 target.
  • Wachovia started Ameristar Casinos Inc (NASDAQ: ASCA) with an Outperform rating; the firm sees upside for Ameristar through growth of existing properties that have expansions and the removal of the $500 loss limit in Missouri.
OTHER INITIATIONS:
  • Mattel Inc (NYSE: MAT) was initiated with a Hold rating at Sterne Agee.
  • First Albany started Gaming Partners International Corp (NASDAQ: GPIC) with a Buy rating and $23 target.
  • Jefferies initiated Morgans Hotel Group Co (NASDAQ: MHGC) with a Hold rating and $20 target based on valuation.
  • UBS started E*Trade Financial Corp (NASDAQ: ETFC) with a Buy rating and $29 target.
  • UBS also started TD Ameritrade Holding Corp (NASDAQ: AMTD) with a Neutral rating on valuation.
  • Stifel initiated Saia Inc (NASDAQ: SAIA) with a Buy rating and $31 target; the firm is positive on Saia's growth and said the company should be the biggest beneficiary of further tonnage leakage from Central Freight Lines, which recently went private.
  • William Blair started US BioEnergy Corp (NASDAQ: USBE) with an Outperform rating.
  • JMP Securities assumed coverage of Delta Financial Corp (NYSE: DFC) with a Strong Buy rating and $13 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

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DJIA+44.2910,291.26
NASDAQ+15.822,166.90
S&P 500+5.501,098.51

Last updated: November 12, 2009: 08:37 AM

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