Today's noteworthy initiations include: American Midstream Partners (AMID) initiated with a Neutral at UBS... Bellerophon (BLPH) initiated with a Buy at SunTrust... CAS Medical (CASM) initiated with a Buy at Craig-Hallum... CONMED (CNMD) initiated with a Sector Weight at KeyBanc... Hanesbrands (HBI) initiated with a Buy at Sterne Agee... Inotek Pharmaceuticals (ITEK) initiated with a Buy at Nomura... Intersect ENT (XENT) initiated with a Buy at Canaccord... Rexford Industrial (REXR) initiated with a Neutral at Citigroup... Scorpio Bulkers (SALT) initiated with an Outperform at Imperial Capital.

Truist lowered the firm's price target on Rexford Industrial to $53 from $57 and keeps a Buy rating on the shares as part of a broader research note updating the firm's model based on the REIT's Q4 results, recent events, adjusted revenue growth and expense assumptions. The company has also recently announced that it will acquire $1B of assets located in SoCal infill at a 4.7% initial yield, but given the limited information about the $1.4B of acquisition pipeline, the firm is neutral on the deal, stating that while the economics make sense, it is unclear how much upside Rexford is giving up to attain these assets.