Bank Analysts Began Coverage on These Shares Today

Following is information on companies for which stock analysts initiated coverage of their shares today:

  • QEP Resources (NYSE:QEP): Howard Weil initiated coverage of this stock with a rating of Market Outperform and a price target of $59.  About the company: QEP Resources Inc. is an independent natural gas and oil exploration and production company. The Company’s operations are focused in the Rocky Mountain and Midcontinent regions of the United States. QEP also gathers, compresses, treats, and processes natural gas (NYSE:UNG).
  • Basic Energy Services (NYSE:BAS): Canaccord Genuity initiated coverage of this stock with a rating of Buy and a price target of $45.  About the company: Basic Energy Services, Inc. provides well site services to oil and gas drilling and producing companies. The Company operates well maintenance, workover, and fluid handling services through a fleet of well servicing rigs and fluid service trucks and equipment.
  • Enersys (NYSE:ENS): Stifel Nicolaus initiated coverage of this stock with a rating of Buy and a price target of $45.  About the company: EnerSys manufactures, markets, and distributes industrial batteries. The Company also manufactures, markets, and distributes related products such as chargers, power equipment, and battery accessories. EnerSys provides related after-market and customer-support services for lead-acid industrial batteries.
  • Opko Health (AMEX:OPK): Ladenburg Thalmann initiated coverage of this stock with a rating of Buy and a price target of $6.  About the company: Opko Health, Inc. is a specialty pharmaceutical company that researches and develops pharmaceuticals. The Company researches treatments for macular degeneration and other ophthalmic diseases.
  • Two Harbors Investment (AMEX:TWO): FBR Capital initiated coverage of this stock with a rating of Outperform and a price target of $11.5.  About the company: Two Harbors Investment Corporation is a real estate investment trust (REIT). The Company focuses on investing in, financing and managing residential mortgage-backed securities, or RMBS, and related investments.
  • Redwood Trust (NYSE:RWT): FBR Capital initiated coverage of this stock with a rating of Mkt Perform and a price target of $14.  About the company: Redwood Trust, Inc., a real estate investment trust, specializes in owning, financing, and credit-enhancing high-quality jumbo residential mortgages loans. The Trust also finances United States real estate through its mortgage backed securities and commercial loans portfolios.
  • Infosys (NASDAQ:INFY): Needham initiated coverage of this stock with a rating of Buy and a price target of $75.  About the company: Infosys Technologies Limited provides IT consulting and software services, including e-business, program management and supply chain solutions. The Group’s services include application development, product co-development, and system implementation and system engineering. Infosys targets businesses specializing in the insurance, banking, telecommunication and manufacturing sectors.
  • Cognizant Tech (NASDAQ:CTSH): Needham initiated coverage of this stock with a rating of Buy and a price target of $100.  About the company: Cognizant Technology Solutions Corporation provides custom Information Technology (NYSE:IT) consulting and technology services as well as outsourcing services. The Company’s core competencies include technology strategy consulting, complex systems development, enterprise software package implementation and maintenance, data warehousing and business intelligence.
  • Syntel (NASDAQ:SYNT): Needham initiated coverage of this stock with a rating of Buy and a price target of $70.  About the company: Syntel, Inc. delivers custom outsourcing solutions through a broad spectrum of information technology and information technology-enabled services. The Company’s services support entire systems and process lifecycles for clients in the Financial Services, Retail, Healthcare and Automotive industries. With over 3300 employees worldwide, Syntel is SEI/CMM level 5 and ISO 9001:2000 certified.
  • iGATE (NASDAQ:IGTE): Needham initiated coverage of this stock with a rating of Buy and a price target of $23.  About the company: iGATE Corporation offers a range of information technology solutions to to large and medium-sized organizations using an offshore/onsite model. The Company’s services include client/server design and development, conversion/migration services, offshore outsourcing, enterprise resource planning (“ERP”) package implementation and integration services, and software development.

(Note: data on stock ratings is sourced from here.  All data are assumed to be accurate.)

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