Outperform - Price 70.08 on Aug. 29 by Credit Suisse MO's board announced its intention to proceed with the spin-off of [Philip Morris Int.'l] in a tax-free transaction. We still like the potential. We maintain our Outperform recommendation as both MO and PMI...can continue to create shareholder value (via share buybacks and more aggressive cost-cutting). MO target: 79.

Buy - Price 86.86 on Aug. 24 by Zacks Research DaimlerChrysler is benefiting from efficiency initiatives, cost reduction, and new-model launches. The recent Chrysler sale will allow the company to refocus its efforts on Mercedes-Benz [and to] lower legacy costs...It's pursuing geographic diversification...and should be able to leverage alliances to fortify its position in [China], the fastest-growing automotive market in the world....Shares trade at a price/earnings multiple of 15.3 times our '07 earnings estimate of $5.68. We set a six-month target price of 100, based on P/E multiple around 17.6 times our 2007 earnings estimate.

Outperform - Price 19.45 on Aug. 28 by RBC Capital Markets Speculative Risk. We recommend that investors add to positions in GMarket [a leading retail e-commerce marketplace in Korea] as both eBay and GMKT continue pulling away from second-tier players and competitive intensity eases in Korea...We believe fundamentals are on track this quarter...GMKT shares are currently trading at 25 times our '08 earnings and 13.5 times earnings before interest, taxes, depreciation and amortization, respectively. Our target, 27, is based on 30 times EPS.

Buy - Price 27.49 on Aug. 28 by Sandler O'Neill Target: 30.50. MF provides execution and clearing services for exchange-traded and [over-the-counter] derivative products....we believe MF deserves a premium to a group of regional U.S. equity brokers currently trading at 14.1 times 2008 expected earnings per share. MF trades at a 24.5% discount to FCStone, which is focused on volatile grain futures (e.g. ethanol-related) and has a limited float...we have modeled for revenues of $8.82 billion for fiscal-year 2007 (marking a growth of 15% year-over-year) and $2.12 billion for Q3 FY07.

Speculative Buy - Price 2.04 on Aug. 27 by Henley and Co. Tumbleweed provides messaging-security solutions for enterprise and government customers [in the areas of] e-mail protection, secure-file transfer/routing, and identity validation. Tumbleweed's customers include top U.S. banks...Blue Cross/Blue Shield organizations...and [the U.S. military]. With the core of TMWD's business growing 38% y/o/y...Tumbleweed has a history of losses in order to build...[which] could continue...Taking the sum-of-the-parts of [its] five revenue-producing businesses and comparing them to their private-market values...we arrive at a value of $8 per share. Market cap: $108 million.

Outperform - Price C$11.95 on Aug. 28 by Friedman Billings Ramsey Through acquisitions and organic growth, the company's seasoned management team promises substantial production growth...[due to] accelerating nuclear energy fundamentals, rebounding uranium prices and mine-production....It has uranium resources and mines in Australia, Kazakhstan, Canada, the U.S., and South Africa. With the recently announced acquisition of Energy Metal Corp., UUU has established a meaningful U.S. presence. We are initiating coverage with a C$15 target [one Canadian dollar currently equals about 94 cents U.S.], representing a 35% premium to our [net asset value] of C$11.31/share, which employs a 10% discount rate on future after-tax free cash flows and reflects our uranium spot price forecast ranging from US$100/lb. to US$125 between now and 2015, and a US$75/lb. price thereafter....Our target valuation also represents a 2010 forward EV/Ebitda [multiple] of 7 times.