Investing
Four Post-IPO Quiet Periods End for Strong Analyst Initiations
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Wall Street brokerage firms have to go through a quiet period after initial public offerings. In this time, the firms that participated in the underwriting syndicate cannot make analyst ratings and cannot talk up a stock. Now we have four quiet periods that have ended.
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Most of the new coverage has been initiated with Buy ratings or other positive variations like Outperform. We have shown the post-coverage trading as well as the price range since the initial public offering priced.
Amber Road Inc. (NYSE: AMBR), a global trade management solutions, closed at $15.17 and has a post IPO range of $14.01 to $17.90. Shares were up 2% shortly after the open. The analysts have initiated positive coverage as follows:
- Buy at Canaccord Genuity
- Buy at Needham & Company
- Outperform at Pacific Crest
- Outperform at Raymond James
- Buy at Stifel
Borderfree Inc. (NASDAQ: BRDR), which is involved in cross-border e-commerce solutions, closed at $14.43 on Monday and has a post-IPO range of $13.29 to $21.25. Shares were down almost 1% after the start of trading. Coverage was initiated as follows:
- Buy at Canaccord Genuity
- Outperform at Credit Suisse
- Outperform at Pacific Crest
- Sector Perform by RBC Capital Markets
- Outperform at William Blair
TPG Specialty Lending Inc. (NYSE: TSLX), a specialty lending and investment firm, closed at $16.90 on Monday, against a post-IPO range of $15.95 to $17.11. Shares were flat after the coverage news, and coverage was started as follows:
- Equal Weight at Barclays
- Buy at Bank of America Merrill Lynch
- Buy at Janney Capital
- Neutral at J.P. Morgan
- Outperform at Wells Fargo
Versartis Inc. (NASDAQ: VSAR), a developmental stage biotech, closed at $24.56, against a post-IPO range of $23.51 to $36.30. Shares were up 9% after the coverage began. Coverage was initiated as follows:
- Buy at Canaccord Genuity
- Buy at Citigroup
- Overweight at Morgan Stanley
READ ALSO: IPO Preview: Another Big Week Ahead
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