Four Post-IPO Quiet Periods End for Strong Analyst Initiations

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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