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Analyst initiations: VMW, VR and HOLX

MOST NOTEWORTHY: VMWare, Validus Holdings and Hologic were today's noteworthy initiations:
  • VMWare Inc (NYSE: VMW) was initiated by a host of firms: Banc of America believes the current valuation captures most of the upside potential, and started shares with a Neutral rating and $75 target. Wachovia started shares with a Market Perform rating and Deutsche Bank started shares with a Hold rating and $80 target on valuation. The stock was also started with a Buy rating and $92 target at UBS, with a Buy rating and $100 target at Citigroup and with an Overweight rating at JP Morgan and with a Neutral rating at Merrill Lynch.
  • Validus Holdings (NYSE: VR) was started with a Buy rating and $29 target at UBS on valuation and benefits from the Talbots (NYSE: TLB) acquisition. Shares were also initiated at JP Morgan with a Neutral rating.
  • CIBC resumed coverage of Hologic Inc (NASDAQ: HOLX) with a Sector Outperformer rating and $77 target as the firm is positive on Hologic's merger with Cytyc Corporation (NASDAQ: CYTC) and views it as one of the top mid-cap stories in the coming year.
OTHER INITIATIONS:
  • B. Riley initiated shares of EuroBancshares (NASDAQ: EUBK) with a Buy rating and $10 target.
  • Rodman resumed coverage of Ziopharm Oncology Inc (NASDAQ: ZIOP) with a Market Outperform rating and $8 target.
  • Citigroup started shares of Timken Company (NYSE: TKR) with a Buy rating and $43 target.
  • MercadoLibre Inc (NASDAQ: MELI) was initiated with a Sector Perform rating and $39 target at RBC Capital.

Newspaper wrap-up 7-13-07: GE in the news

MAJOR PAPERS:
  • General Electric Company (NYSE: GE) has hired Morgan Stanley (NYSE: MS) to find a buyer for its WMC Mortgage subprime mortgage unit, signaling its exit from the mortgage business, reported the Wall Street Journal (subscription required).
  • GE's CNBC cable business news channel and the Financial Times Group are in discussions to share resources and shore up their Web business, reported the Wall Street Journal.
  • VeriSign Inc (NASDAQ: VRSN), which oversees dot-com and dot-net domain names registry, has recorded an additional $160M in compensation expenses related to stock option grants made between 1998 and 2006, causing the CFO to resign, reported the Wall Street Journal.
  • The Financial Times (subscription required) reported that Virgin Media Inc (NASDAQ: VMED) has hired financial services company UBS AG (NYSE: UBS) yesterday to pursue strategic buyers.
OTHER PAPERS:

Symbol Lookup
IndexesChangePrice
DJIA+39.0710,286.04
NASDAQ+15.052,166.13
S&P 500+5.221,098.23

Last updated: November 11, 2009: 03:52 PM

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