Outperform - Price 25.30 on Sept. 4 by Cowen & Co. We believe shares can outperform the market by 20% to 25% over the next 12 months. BladeLogic [a maker of automation software and server-management systems] is levered to some of the most powerful growth drivers in technology...Data-center economics are changing, with operational costs now far outpacing capital costs...Competitor Opsware was recently acquired by HP for a valuation 22% ahead of BLOG's current share price. We count...nine potential acquirers for BLOG [and] view acquisition as upside scenario. The stock's not cheap, but numbers have an upward bias. Market cap: $675.4 million

Buy - Price 36.85 on Sept. 5 by Lazard Capital Markets Applications-delivery and solutions firm Citrix Systems announced a tuck-in acquisition of privately held Quicktree....We believe Quicktree had little revenue, and that the acquisition was for less than $5 million. Risks include acquisition risk, uncertainty on the core growth rate of the presentation-server business, the highly competitive marketplace, the fact that Citrix is late [with] SEC filings, and the company's ability to execute its business strategy....We think the shares are undervalued at current levels. Our price target of 43 equates to 23.5 times our 2008 [earnings per share] estimate.

Outperform - Price 39.70 on Sept. 5 by Morgan Keegan Speculative. [Texas- and Oklahoma-based] Copano announced that it has entered into an agreement to purchase Cantera Natural Gas from Metalmark Capital for $675 million....CPNO's first foray into Wyoming's prolific Powder River Basin production area in eastern and northeast Wyoming...gives the company a key foothold in one of the top unconventional plays in North America. Copano provides midstream services on approximately 770 [million cubic feet] per day of natural gas....The company expects the acquisition to provide annualized earnings before interest, taxes, depreciation and amortization of $35 million for 2007, $40 million in 2008 and $80 million in 2010 and beyond, which represent annualized increases of 29%, 26% and 43% respectively. Management expects "mid-teen" distribution growth for the next five years.

Market Perform - Price 2.91 on Sept. 4 by JMP Securities Initiating coverage of Drugstore.com...the leading online health and beauty store, offering consumers convenience, well-known brands, hard-to-find products, privacy and competitive prices. The company owns Beauty.com and Vision Direct. We believe improved operational efficiencies, a shift toward a greater mix of higher-margin beauty sales, SKU [bar-code] expansion, improved productivity and a scaleable business model should lead to profitability. While DSCM is currently unprofitable on a net basis, quarterly losses are narrowing, and we expect initiatives to begin paying off in 4Q...At current levels, we find shares fully valued on an enterprise-value/Ebitda basis, especially against peer companies that are more profitable. DSCM shares are trading at 41.6 times our fiscal-year '08 unadjusted Ebitda estimate versus the peer-group average at 16.7 times.

Buy - Price 53.40 on Sept. 5 by Sterne Agee [Clothing-and-accessory retailer] Guess reported Q2 [EPS] at 40 cents, which was 7 cents above First Call consensus and at the high end of guidance. Guess guides the year to $1.79 to $1.84 [range], which suggests our second-half estimates are high by 4 cents or more. A shifting of sales out of Q3 into Q2 in Europe of some $10 million to $13 million, led to the strong Q2 performance but may limit Q3. Comps for Q2 were very strong, up 16.2% with double-digit growth each month, which continued into August. As a result, North American comp guidance for Q3 has been raised to mid-single digits....Gift card[s] which were unredeemed led to a $3 million increase in retail revenue and income. Otherwise, operating margins in retail were about flat with expense tied to the launch of G by Guess cited. Global initiatives include the launch of GC Watches, handbags and the opening of footwear stores, thought to be a 150-store opportunity worldwide....Our target price, 55, has been increased to 57 based on a price/earnings ratio of 25 times forward estimates.

Outperform - Price 16.50 on Sept. 5 by Pacific Crest Initiating at Outperform based on MLNX's prospects of 40% or higher growth, healthy operating margin of 22% or higher, leading position in InfiniBand silicon with roughly 85% market share, expanding ecosystem of 100 partners and attractive risk/reward ratio at 15 times our 2009 earnings per share estimate....Adoption of multicore processors, grid clusters and virtualization is driving the need for faster connections.... MLNX has declined 22% since the end of June because of the [initial-public-offering: February] lockup expiration, despite healthy fundamentals. We would build positions below $20 with upside to 26 based on DCF analysis and target price/earnings multiple of 28 times our '08 EPS estimate.

Outperform - Price 12.21 on Sept. 4 by William Blair & Co. Aggressive growth. Initiating research coverage of [this] leading global provider of text-imaging technologies and fonts. [Our analyst estimates] that the company, which provides solutions enabling printing and display of high-quality digital text on a variety of consumer-electronic devices, would earn 54 cents per share in 2007 and 76 cents per share in 2008. An investment in Monotype is, in our opinion, a bet on the proliferation of rich-digital-media devices. As consumers continue to spend more on digital devices each year ($1,200 today, versus $600 in 1990), we believe Monotype's high-margin business model and accelerating earnings growth potential (from balance-sheet deleveraging) make it a concentrated way to invest in these strong secular trends without being tied to one end-market or specific device manufacturer.

Outperform - Price 12.21 on Sept. 4 by William Blair & Co. Aggressive growth. Initiating research coverage of [this] leading global provider of text-imaging technologies and fonts. [Our analyst estimates] that the company, which provides solutions enabling printing and display of high-quality digital text on a variety of consumer-electronic devices, would earn 54 cents per share in 2007 and 76 cents per share in 2008. An investment in Monotype is, in our opinion, a bet on the proliferation of rich-digital-media devices. As consumers continue to spend more on digital devices each year ($1,200 today, versus $600 in 1990), we believe Monotype's high-margin business model and accelerating earnings growth potential (from balance-sheet deleveraging) make it a concentrated way to invest in these strong secular trends without being tied to one end-market or specific device manufacturer.