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.
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
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