Morgan Keegan Initiating Coverage on GeoEye With Outperform Rating

According to Morgan Keegan, it is initiating coverage on GeoEye GEOY with Outperform rating. Morgan Keegan reported that GeoEye is a leading provider of high-resolution satellite imagery and associated value-added services. “Key investment points include being a leading participant in the rapidly growing satellite imagery market, having a long term stable revenue base from the National Geospatial Intelligence Agency (NGA), and significant growth potential. We are optimistic about the outlook for GeoEye and see shares attractively valued at current levels (we note the company is trading at a significant discount to its closes comparable, DigitalGlobe (DGI M/S - $28.79). We are initiating coverage of GEOY with an Outperform investment rating and $48 price target.” GeoEye closed yesterday at $39.80.