Filed under: Analyst initiations

MOST NOTEWORTHY: Micron, Chico’s FAS and Lifetime Brands were today’s noteworthy initiations:

• Oppenheimer assumed Micron (NYSE: MU) with an Outperform rating and $9.50 target, as they believe price declines in the DRAM market moderated in 2H of the December quarter and that concerns of oversupply are already priced into shares.
• Stanford believes shares of Chico’s FAS (NYSE: CHS) will remain under pressure over the next three to six months given the adverse economic conditions and the company’s “less-than-exciting” fashion assortment. The firm started shares with a Hold rating and $10 target.
• Lifetime Brands (NASDAQ: LCUT) was initiated with a Neutral rating at SunTrust. The firm prefers to wait for greater visibility on the U.S. consumer spending environment before becoming more constructive on the name.

OTHER INITIATIONS:

• Soleil initiated Worthington (NYSE: WOR) with a Hold rating.
• Jefferies started Esterline Technologies (NYSE: ESL) with a Buy rating and $58 target.
• Oppenheimer assumed Spansion (NASDAQ: SPSN) with a Perform rating.

Permalink | Email this | Comments

Share This

This entry was posted on Friday, February 15th, 2008 at 2:40 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.