Analyst initiations: INSP, PRXL and IAR
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MOST NOTEWORTHY: InfoSpace, Parexel and Idearc Inc were today’s noteworthy initiations:
- B. Riley believes InfoSpace (NASDAQ: INSP) is now positioned to further leverage the growing online search market following divestitures. The firm started shares with a Buy rating and $13 target.
- Oppenheimer assumed coverage of Parexel (NASDAQ: PRXL) with an Outperform rating and $70 target, as they believe the company is well-positioned to benefit from positive CRO industry trends and sees room for continued growth.
- Wachovia initiatedIdearc (NYSE: IAR) with an Underperform rating, citing the challenging industry and cyclical pressures.
OTHER INITIATIONS:
- Morgan Keegan initiated GMX Resources (NASDAQ: GMXR) with an Outperform rating.
- Goldman assumed coverage of Cigna (NYSE: CI) with a Buy rating.
- Merrill started PharMerica (NYSE: PMC) with a Neutral rating.
Original post by Eric Buscemi
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