Today's Most Important Initiations

Cowen initiated coverage on Analog Devices (NASDAQ: ADI) with an Outperform rating and a $180 price target. The analysts believe the company’s shares offer “attractive value” at the moment. Furthermore, the company offers “best-in-class margins and capital return profile with a fab-lite model that, according to the analysts, is well positioned to sustain strong dividend growth and a material repurchase program through-cycle.

Roblox (NYSE: RBLX) shares closed more than 2% lower today after Barclays initiated coverage on the company with an Underweight rating and a price target of $20. “High-ARPU regions such as the US and Europe [are] already 30% penetrated, suggesting both user and bookings growth may be challenged moving forward, which we think may result in further potential downward revisions,” commented the analysts.

Morgan Stanley initiated coverage on CRISPR Therapeutics (NASDAQ: CRSP) with an Underweight rating and a price target of $37.00. Shares closed more than 3% lower today.

By Davit Kirakosyan

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