Analyst initiations: SOLF, BMRN and DNA

Filed under: Analyst reports, Staples Inc (SPLS), Genentech Inc (DNA), Analyst initiationsMOST NOTEWORTHY: Solarfun Power, BioMarin Pharmaceutical and Genentech were today's noteworthy initiations: 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... [read full story]