MOST NOTEWORTHY:

• Adobe Systems Inc (NASDAQ: ADBE) was initiated with an Outperform rating and $47 target at Credit Suisse. The firm said Adobe is one of the best-positioned large-cap software companies given its leading position in digital media and growing presence in enterprise mobile and Web 2.0 markets.

• CA Inc (NYSE: CA) was initiated with a Hold rating and $27 target at Jefferies. While CA is being looked at by private-equity players, Jefferies believes shares are richly valued.

• DSW Inc (NYSE: DSW) was initiated with a Sell rating and $30 target at Wedbush, as they believe the consensus' 3-5 year annual EPS growth rate of 20% to be too high.

• Credit Suisse started Southern Union Co (NYSE: SUG) with an Outperform rating and $33 target.

• Needham assumed coverage of Ikanos Communications Inc (NASDAQ: IKAN) with a Hold rating, as the firm believes a rebound of VDSL spending is unlikely until the second-half of 2007.

• Morgan Joseph is positive on Denny's Corp (NASDAQ: DENN) improving operations and started the food retailer with a Buy rating and $7 target.

• Jefferies started HMS Holdings Corp (NASDAQ: HMSY) with a Buy rating and $25 target. The firm believes HMS Holdings is positioned to serve the needs of government healthcare programs.

• Credit Suisse initiated WebEx Communications Inc (NASDAQ: WEBX) with a Neutral rating at $50 target based on valuation.

Analyst initiations 2-06-07: Adobe started with an Outperform at Credit Suisse originally appeared on BloggingStocks on Tue, 06 Feb 2007 11:35:00 EST. Please see our terms for use of feeds.