Today's noteworthy initiations include: Accuride (ACW) initiated with a Buy at Gabelli... Apigee (APIC) initiated with a Buy at Nomura... Ctrip.com (CTRP) initiated with a Buy at Guggenheim... Drew Industries (DW) initiated with a Neutral at CL King... EPAM Systems (EPAM) initiated with an Outperform at William Blair... Energy Transfer Equity (ETE) initiated with a Buy at Deutsche Bank... Energy Transfer Partners (ETP) initiated with a Buy at Deutsche Bank... Enterprise Products (EPD) initiated with a Buy at Deutsche Bank... Expedia (EXPE) initiated with a Buy at Guggenheim... Federated National (FNHC) initiated with a Market Perform at JMP Securities... HomeAway (AWAY) initiated with a Neutral at Guggenheim... International Flavors (IFF) initiated with an Outperform at Exane BNP Paribas... Inuvo (INUV) initiated with a Buy at H.C. Wainwright... Kinder Morgan (KMI) initiated with a Buy at Deutsche Bank... Liberty TripAdvisor (LTRPA) initiated with a Buy at Guggenheim... MPLX (MPLX) initiated with a Buy at Deutsche Bank... MarkWest Energy (MWE) initiated with a Buy at Deutsche Bank... ONEOK Partners (OKS) initiated with a Sell at Deutsche Bank... ONEOK (OKE) initiated with a Sell at Deutsche Bank... Orbitz (OWW) initiated with a Neutral at Guggenheim... Patrick Industries (PATK) initiated with a Buy at CL King... Phillips 66 Partners (PSXP) initiated with a Buy at Deutsche Bank... Plains All American (PAA) initiated with a Buy at Deutsche Bank... Plains GP Holdings (PAGP) initiated with a Hold at Deutsche Bank... Priceline (PCLN) initiated with a Neutral at Guggenheim... Simmons First National (SFNC) initiated with a Buy at Sandler O'Neill... Summit Midstream (SMLP) initiated with a Buy at Deutsche Bank... Sunoco Logistics (SXL) initiated with a Buy at Deutsche Bank... Sunoco (SUN) initiated with a Hold at Deutsche Bank... Tesoro Logistics (TLLP) initiated with a Buy at Deutsche Bank... TimkenSteel (TMST) initiated with an Outperform at Cowen... TripAdvisor (TRIP) initiated with a Buy at Guggenheim... Valero Energy Partners (VLP) initiated with a Buy at Deutsche Bank... Western Gas Equity (WGP) initiated with a Hold at Deutsche Bank... Western Gas Partners (WES) initiated with a Buy at Deutsche Bank.

Barclays analyst Ramsey El-Assal lowered the firm's price target on Epam Systems to $265 from $315 and keeps an Equal Weight rating on the shares. Peer results point to continued softness in discretionary spend, the analyst tells investors in a research note. While solid bookings support longer-term growth, pressure in small deals adds downside-risk to Q1 results, says the firm.