Analyst initiations: LECO, PSEC and GMXR

Filed under: Analyst reports, Analyst initiations

MOST NOTEWORTHY:

• Piper believes Lincoln Electric (NASDAQ: LECO) is positioned to capitalize on global infrastructure spending as a leading manufacturer of welding/metal fabrication equipment and materials. Shares were initiated with a Buy rating and $100 target.
  


• Wachovia said Prospect Capital (NASDAQ: PSEC) has good visibility on portfolio growth and sees significant value in the potential sale of the company Gas Solutions business. The firm assumed shares with an Outperform rating.
  


• Collins Stewart initiated GMX Resources (NASDAQ: GMXR) with a Buy rating and $67 target. The firm believes the company's drilling program will continue to drive both strong production and proved reserves growth.

• Louisiana Pacific (NYSE: LPX) was initiated at RBC Capital with an Underperform rating and $10 target.
  


• The firm also started Mercer International (NASDAQ: MERC) with an Outperform rating and $11 target.
  


• Keefe Bruyette initiated SWS Group (NYSE: SWS) with a Market Perform rating.

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