Analyst initiations: NBF, AVR and the REIT sector
Filed under: Analyst reports, Analyst initiations
MOST NOTEWORTHY: Nova BioSource, Aventine Renewable and the REIT Sector were today's noteworthy initiations:ThinkPanmure believes Nova BioSource's (AMEX:NBF) biodiesal production process is economically superior to traditional processes but higher feedstock costs will make scaling difficult. Shares were initiated with an Accumulate rating.
ThinkPanmure also initiated Aventine Renewable (NYSE:AVR) with an Accumulate rating and $8 target. The firm does not expect share upside until margin visibility improves, which will not occur until next year's corn crop materializes in early 2009.
Lehman initiated the REIT sector with a Neutral rating; the firm started AMB Property (NYSE:AMB) and Kimco Realty (NYSE:KIM) with Overweight ratings and CBL & Associates (CBL) with an Underweight rating. OTHER INITIATIONS:
JP Morgan initiated BLADEX (NYSE:BLX) and Banco Santander (NYSE:SAN) with Overweight ratings. KeyBanc assumed Capital Lease Funding (NYSE:LSE) with a Hold rating. Read | Permalink | Email this | Comments