Analyst initiations: SOLF, BMRN and DNA

Filed under: Analyst reports, Staples Inc (SPLS), Genentech Inc (DNA), Analyst initiations

MOST NOTEWORTHY:

• Jefferies initiated Solarfun Power (NASDAQ:SOLF) with a Buy rating and $18 target. The firm believes the one-third stake purchased by Good Energies and new management hires could generate operational momentum and that declining silicon costs may help margins.
  


• BioMarin Pharmaceutical (NASDAQ:BMRN) was started at Oppenheimer with a Perform rating. The firm recommends waiting for Street estimates on Kuvan sales to moderate and for positive pipeline signals before adding to positions.
  


• Genentech (NYSE:DNA) was initiated at Citigroup with a Buy rating and $91 target. The firm believes several studies could lead to robust growth and points out the company's Q2 results showed Avastin reaccelerating due to growth in breast cancer.

• Goldman reinstated Staples (NASDAQ:SPLS) with a Neutral rating.
  


• Zebra Tech (NASDAQ:ZBRA) was initiated with a Hold rating at KeyBanc.
  


• Rodman & Renshaw assumed coverage of Corcept Therapeutics (NASDAQ:CORT) with an Outperform rating and $8 target.
  


• AuthenTec (NASDAQ:AUTH) was initiated at JP Morgan with an Overweight rating and at Canaccord Adams with a Hold rating and $10 target.

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