Sidoti Starts Encore Wire (WIRE) at Neutral Jul 18, 2008 03:30PM

Sidoti initiates coverage on Encore Wire (Nasdaq: WIRE) with a Neutral rating.

Encore Wire Corporation manufactures copper electrical building wire and cable in the United States.


Longbow Starts Air Methods (AIRM) at Buy Jul 18, 2008 09:52AM

Longbow Research initiates coverage on Air Methods (Nasdaq: AIRM) with a Buy rating.

Air Methods Corporation and its subsidiaries provide air medical emergency transport services and systems in the United States.


BofA Starts DST Systems (DST) at Buy Jul 18, 2008 09:48AM

Banc of America initiates coverage on DST Systems (NYSE: DST) with a Buy rating.

DST Systems, Inc., through its subsidiaries, provides information processing and software services and products in the United States and internationally.


Wachovia Initiates Healthcare Realty Trust (HR) with an Outperform Jul 18, 2008 09:30AM

Wachovia initiates coverage on Healthcare Realty Trust (NYSE: HR) with an Outperform rating and a $26 to $28 valuation range.

The firm said, "Though HR trades at a premium using P/FFO multiples, it remains in line compared to peers using P/NAV. We believe the company's proven development track record and sizable current pipeline of $260mm will provide a channel for strong returns and growth potential into 2009-10. This contrasts to its non-development oriented peers that could be weighed down by acquisitions of 'richly' valued MOB assets."

The firm also highlighted that HR has development expertise and "remains one of only a few public Healthcare REITs with the experience and track record to undertake large scale development projects ($500mm in developed assets over the past 15 years)." Development usually yields 9-10% which compares favorably to 7-8% acquisition yields. This causes the firm to believe HR should be able to deliver stronger earnings growth and sizable NAV upside via value creation.

The company also maintains strong ties with large healthcare systems (e.g. Baylor Healthcare System, HealthSouth, HCA, etc.), "providing for potential built-to-suit opportunities and improved channel for development lease-up." Also, the company has exposure to high population growth areas (TX, FL, & CA), which should boost future tenant demand needs.

Healthcare Realty Trust Incorporated, a real estate investment trust, engages in the ownership, acquisition, management, and development of real estate properties associated with the delivery of healthcare services in the United States.


BofA Starts Paychex (PAYX) at Buy Jul 18, 2008 09:24AM

Banc of America initiates coverage on Paychex (Nasdaq: PAYX) with a Buy rating.

Paychex, Inc. provides payroll and integrated human resource and employee benefits outsourcing solutions for small- to medium-sized businesses in the United States.


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Jul 18, 2008 09:22AM BofA Starts Western Union (WU) at Buy
Jul 18, 2008 09:13AM First Analysis Initiates Coverage on ArcSight (ARST) with an Overweight
Jul 18, 2008 08:45AM Wachovia Initiates Health Care Property Investors (HCP) with a Market Perform
Jul 18, 2008 08:31AM JPMorgan Starts Illinois Tool Works (ITW) at Neutral
Jul 18, 2008 08:23AM Wachovia Initiates Senior Housing Properties Trust (SNH) with an Underperform
Jul 18, 2008 08:19AM Citi Initiates Coverage on Wyeth (WYE) with a Hold
Jul 18, 2008 08:18AM Piper Jaffray Initiates WuXi PharmaTech (WX) with a Neutral
Jul 18, 2008 08:17AM Citi Initiates Coverage on Pfizer (PFE) with a Hold
Jul 18, 2008 08:14AM Citi Initiates Coverage on Schering-Plough (SGP) with a Neutral
Jul 18, 2008 08:12AM Citi Initiates Coverage on Eli Lilly (LLY) with a Neutral
Jul 18, 2008 08:09AM Citi Initiates Coverage on Bristol-Myers Squibb (BMY) with a Neutral
Jul 18, 2008 08:08AM JPMorgan Starts Luminex (LMNX) at Neutral
Jul 18, 2008 07:59AM Citi Initiates Coverage on Merck (MRK) with a Buy
Jul 18, 2008 07:56AM Piper Jaffray Initiates 3SBio (SSRX) with a Buy
Jul 18, 2008 07:43AM Oppenheimer Initiates Coverage on ShengdaTech (SDTH) with a Perform
Jul 18, 2008 07:38AM Caris & Co Initiates Coverage on SanDisk (SNDK) with an Above Average Rating
Jul 18, 2008 07:37AM Dougherty Initiates Coverage on Phase Forward (PFWD) with a Buy
Jul 17, 2008 05:42PM CL King Starts Toro (TTC) at Neutral
Jul 17, 2008 01:11PM Gabelli and Co Starts LDK Solar (LDK) at Buy
Jul 17, 2008 12:55PM JP Morgan Starts AuthenTec (AUTH) at Overweight
Jul 17, 2008 10:27AM Buckingham Research Initiates Coverage on Capital One Financial (COF) with a Neutral
Jul 17, 2008 10:22AM Buckingham Research Initiates Coverage on Discover Financial (DFS) with a Neutral
Jul 17, 2008 10:17AM Cowen & Co Starts NetApp (NTAP) at Neutral
Jul 17, 2008 10:14AM Buckingham Research Initiates Coverage on Mastercard (MA) with a Strong Buy
Jul 17, 2008 10:11AM Buckingham Research Initiates Coverage on Visa (V) with an Accumulate
Jul 17, 2008 10:08AM Buckingham Research Initiates Coverage on American Express (AXP) with a Neutral
Jul 17, 2008 10:05AM Citi Initiates Coverage on Genentech (DNA) with a Buy
Jul 17, 2008 08:52AM Cantor Fitzgerald Initiates Star Bulk Carriers Corp. (SBLK) with a Buy
Jul 17, 2008 08:42AM Stifel Nicolaus Starts Atwood Oceanics Inc. (ATW) at Hold
Jul 17, 2008 08:41AM Stifel Nicolaus Starts Oceaneering International (OII) at Buy
Jul 17, 2008 08:38AM Credit Suisse reinstates coverage on Dyncorp Intl (DCP) with a Neutral
Jul 17, 2008 08:11AM KeyBanc Initiates Zebra Technologies (ZBRA) with a Hold
Jul 17, 2008 07:54AM Oppenheimer Initiates Coverage on BioMarin Pharmaceutical (BMRN)
Jul 17, 2008 07:51AM Goldman Sachs restarted coverage on Best Buy (BBY) with a Sell
Jul 17, 2008 07:50AM Jefferies & Co Initiates Coverage on Solarfun (SOLF) with a Buy
Jul 17, 2008 07:48AM Jefferies & Co Initiates Coverage on Infineon (IFX) with a Buy
Jul 17, 2008 07:27AM UBS Upgrades Microchip Technology (MCHP) to Buy
Jul 16, 2008 11:04AM Sidoti Starts World Acceptance (WRLD) at Buy
Jul 16, 2008 10:43AM Citi Initiates Coverage on Delphi Financial Group (DFG)
Jul 16, 2008 09:02AM BB&T Capital Starts MHI Hospitality (MDH) at Buy
Jul 16, 2008 09:00AM BB&T Capital Starts LaSalle Hotel (LHO) at Buy
Jul 16, 2008 08:59AM BB&T Capital Starts Supertel Hospitality (SPPR) at Hold
Jul 16, 2008 08:58AM RBC Capital Starts Clearwire (CLWR) at Outperform
Jul 16, 2008 08:53AM BB&T Capital Starts Ashford Hospitality (AHT) at Hold
Jul 16, 2008 08:45AM RBC Capital Starts Garmin (GRMN) at Sector Perform
Jul 16, 2008 08:44AM RBC Capital Starts Harmonic (HLIT) at Sector Perform
Jul 16, 2008 08:43AM RBC Capital Starts MetroPCS (PCS) at Sector Perform
Jul 16, 2008 08:39AM RBC Capital Starts JDS Uniphase (JDSU) at Sector Perform
Jul 16, 2008 08:38AM RBC Capital Starts NTELOS Holdings (NTLS) at Outperform
Jul 16, 2008 08:37AM RBC Capital Starts Arris Group (ARRS) at Sector Perform
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