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Research Analysts’ new coverage for Friday, August 1st:

BMO Capital Markets initiated coverage on shares of Chefs’ Warehouse (NASDAQ:CHEF). The firm issued a hold rating and a $17.00 price target on the stock. The analysts wrote, “CHEF reported adj. EPS of $0.18 that was below our $0.23 estimate and $0.21 Consensus. The miss was driven by lower gross margins and higher operating expenses as CHEF reported impressive revenue growth – organic growth increased +4.6% overall and was 10%+ in the southern and western regions. Gross margins were hurt by negative mix shift at Allen Bros. and the inability to pass on high levels of inflation (+5.4%), and operating expenses were pressured by investments made to support future growth. “CHEF is building the infrastructure to support a company that generates $1+ billion in revenues. In the near-term, until CHEF approaches that size, CHEF will probably generate limited flow-through despite the company’s impressive top line growth. Unfortunately, there is limited visibility as to when CHEF will achieve $1 billion in sales – it could be FY15 with the right acquisitions, but acquisitions are impossible to predict. As a result, we remain at Hold.”

Tigress Financial assumed coverage on shares of Foundation Medicine (NYSE:FMI). The firm issued a neutral rating on the stock.

Tigress Financial started coverage on shares of Illumina (NASDAQ:ILMN). The firm issued a buy rating on the stock.

Cormark initiated coverage on shares of Kinaxis (TSE:KXS). They issued a buy rating on the stock.

S&P Equity Research began coverage on shares of Eli Lilly and (NYSE:LLY). The firm issued a buy rating on the stock.

Tigress Financial started coverage on shares of Eli Lilly and (NYSE:LLY). They issued a buy rating on the stock.

Credit Suisse started coverage on shares of Orbitz Worldwide (NYSE:OWW). They issued a neutral rating and a $10.50 target price on the stock.

Noble Financial started coverage on shares of Paramount Resources (NYSEAMEX:PZG). They issued a buy rating and a $1.75 price target on the stock.

National Bank Financial began coverage on shares of Seabridge Gold (NYSE:SA). They issued an outperform rating on the stock.

National Bank Financial initiated coverage on shares of Seabridge Gold (TSE:SEA). National Bank Financial issued an outperform rating and a C$15.00 target price on the stock.

Stifel Nicolaus initiated coverage on shares of Waste Connections (NYSE:WCN). Stifel Nicolaus issued a buy rating on the stock.

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