Benzinga's Top Initiations

Analysts at Maxim Group initiated coverage on iGATE IGTE with a Buy rating. The target price for iGATE is set to $52. iGATE's shares closed at $34.63 yesterday. Sandler O'Neill initiated coverage on shares of Mercantile Bank MBWM with a Buy rating. The target price for Mercantile Bank is set to $22.50. Mercantile Bank's shares closed at $19.51 yesterday. Analysts at Stifel Nicolaus initiated coverage on shares of NXP Semiconductors N.V. NXPI with a Buy rating. The target price for NXP Semiconductors N.V. is set to $78. NXP Semiconductors N.V. shares closed at $63.80 yesterday. Janney Capital initiated coverage on shares of ARC Group Worldwide ARCW with a Buy rating. The target price for ARC Group Worldwide is set to $26. ARC Group Worldwide's shares closed at $18.06 yesterday.