MOST NOTEWORTHY: Nova BioScience, Saba Software and Darling were today’s noteworthy initiations:

• Jefferies initiated Nova BioSource Fuels (NYSE: NBF) with a Buy rating and $3.75 target, and finds the risk/reward appealing for biofuels investors as the company has more than 100M gallons of biodiesel capacity slated to come onstream by 2009.
• B. Riley expects Saba Software’s (NASDAQ: SABA) renewed focus on profitability to drive substantial EPS and free cash flow expansion in FY09. The firm started shares with a Buy rating and $6 target.
• Stephens believes Darling International (NYSE:
  DAR) shares offer a solid commodity cycle and an appealing renewable fuels opportunity and initiated shares with an Overweight rating and $17 target..

OTHER INITIATIONS:

• Elizabeth Arden (NASDAQ: RDEN) was initiated with a Market Perform rating at Wachovia.
• Goldman initiated Nuance Communications (NASDAQ: NUAN) with a Neutral rating and $20 target.
• Morgan Stanley initiated ARM Holdings (NASDAQ: ARMHY) with an Equal Weight rating.

Original post by Eric Buscemi

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