Janney Montgomery Scott initiates coverage on Papa John's International (Nasdaq: PZZA) with a Neutral rating. Price target $24.
Janney analyst says, "At present, our Neutral rating is driven by what we view as a relatively balanced blend of potential positives and risk factors. Potential positives include favorable strategic positioning, its ability to gain market share, and long-term international growth opportunities. Risks include the highly competitive nature of the domestic pizza market, macroeconomic challenges, and our industry sources telling us that the concept's January sales trends may have been underneath Street expectations.
"We view Papa John's higher-quality stance as a defensible strategic position in the long run. This should help Papa John's to (generally) gain market share within the U.S. limited-service pizza segment in coming years...Our industry sources suggest that Papa John's U.S. same-store sales got off to a very slow start to Q1, with January comps running decidedly negative. As such, our below-consensus blended U.S. same-store sales forecast for the first quarter is -2.5%. Our Q1 EPS estimate of $0.47 lies two cents below the First Call consensus projection of $0.49...Our EPS estimates for 2009, 2010, and 2011 are $1.46, $1.79, and $2.13, respectively."
To see all the upgrades/downgrades on shares of PZZA, visit our Analyst Ratings page.
Feltl & Co. initiates coverage on ActivIdentity (Nasdaq: ACTI) with a Buy rating. Price target $4.50.
To see all the upgrades/downgrades on shares of ACTI, visit our Analyst Ratings page.
ActivIdentity Corporation (ActivIdentity) provides solutions globally to establish a person's identity when interacting digitally.
Oscar Gruss initiates coverage Airgas (NYSE: ARG) with a Buy. Price target $69.
Oscar analyst says, "In our opinion, it's not a matter of if but when and how much. The industrial gas business is scale-driven and ARG's lack of international diversification make it a ripe consolidation target."
To see all the upgrades/downgrades on shares of ARG, visit our Analyst Ratings page.
Sidoti & Co initiates coverage on Solutia (NYSE: SOA) with a Buy. Price target $18.
To see all the upgrades/downgrades on shares of SOA, visit our Analyst Ratings page.
Solutia Inc. is a global manufacturer and marketer of a variety of chemical and engineered materials that are used in a range of consumer and industrial applications.
RBC Capital initiates coverage on Questar (NYSE: STR) with a Sector Perform rating. Price target $50.
To see all the upgrades/downgrades on shares of STR, visit our Analyst Ratings page.
Questar Corporation (Questar) is a natural gas-focused energy company with four major lines of business: gas and oil exploration and production, midstream field services, energy marketing, interstate gas transportation, and retail gas distribution.
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Barclays Initiates Coverage on Susquehanna Bancshares (SUSQ) with an Equalweight
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Barclays Initiates Coverage on Fulton Financial (FULT) with an Overweight
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Calyon Securities Initiates Coverage on Hess Corp. (HES) with a Buy
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Jefferies & Co Initiates Coverage on Fresenius Medical Care (FMS) with a Buy
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Deutsche Bank Initiates Coverage on Complete Production Services (CPX) with a Buy; Attractive Valuation
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Craig-Hallum Initiates Coverage on LivePerson (LPSN) with a Buy
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Monness, Crespi Hardt Initiates Coverage on Standard Pacific (SPF) with a Buy
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C.L. King Initiates Coverage on Woodward Governor (WGOV) with an Accumulate
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Gabelli Starts comScore (COMS) at Buy
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HSBC Initiates Coverage on AIXTRON AG (AIXG) with an Overweight
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BMO Capital Initiates Coverage on lululemon athletica (LULU) with a Market Perform
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Goldman Sachs Starts Moody's (MCO) and McGraw-Hill (MHP) at Neutral
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Citi Initiates Coverage on Broadcom (BRCM) with a Buy
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Monness, Crespi, Hardt Initiates Coverage on Incyte (INCY) with a Buy
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Cantor Fitzgerald Initiates Coverage on KBW, Inc. (KBW) with a Buy
