Today’s Most Important Initiations By Investing.com

By Davit Kirakosyan

Raymond James initiated coverage on Xenon Pharmaceuticals (NASDAQ:) with an Outperform rating and a price target of $52.00. Shares were up more than 2% today. Given epilepsy data are highly reproducible, the analysts see very little risk to success for XEN1101 in its lead focal onset seizure (FOS) indication following the robust Ph 2 data generated late last year. According to the analysts, FOS represents a more than $1 billion opportunity at peak, meaning the remaining upside potential is significant at the company’s current approximately $1.6 billion EV.

Credit Suisse initiated coverage on T. Rowe Price Group Inc (NASDAQ:) with an Underperform rating and a price target of $70.00.

UBS initiated coverage on ProKidney Corp (NASDAQ:) with a Buy rating and a price target of $18.00.

Jefferies assumed coverage on Walmart (NYSE:) with a Buy rating and a price target of $165.00, noting that the company remains the value leader and an outsized trade-down beneficiary.

Baird initiated coverage on Splunk (NASDAQ:) with an Outperform rating and a price target of $130.00. Shares were up more than 2% today.

Credit Suisse initiated coverage on KKR & Co Inc (NYSE:) with a Neutral rating and a price target of $48.00.

Jefferies initiated coverage on Range Resources (NYSE:) with a Hold rating and a price target of $31.00.

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