Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. HP Inc. (HPQ), 3D Systems (DDD), and Stratasys (SSYS) were initiated with a Neutral at Susquehanna. 2. Danaher (DHR) initiated with a Market Perform at Wells Fargo. 3. E-Trade (ETFC) and TD Ameritrade (AMTD) were initiated with a Buy at Rosenblatt, while Charles Schwab (SCHW) was initiated with a Neutral. 4. C&J Energy Services (CJ) initiated with a Buy at Jefferies. 5. BIO-key (BKYI) initiated with a Buy at Maxim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

In the firm's Q1 letter to investors, David Einhorn's Greenlight Capital disclosed new long positions taken during the quarter, including taking stakes in HP Inc. (HPQ), Penn Entertainment (PENN) and Roivant Sciences (ROIV). In the letter, the firm stated that it established a new "medium-sized position" in Penn at an average price of $22.69 per share, arguing that "were the market to credit PENN with merely 15% of DraftKings' value, [Penn's ESPN BET] segment alone would be worth $20 per share." On HP Inc., Greenlight stated that it had established an initial position at an average price of $30.76 per share, adding that it believes "that we are, at a minimum, on the cusp of a normal PC refresh cycle, which should drive earnings above estimates." On Roivant, Greenlight said it had established a "small long position," adding that "in addition to an exciting pipeline, ROIV has a strong track record of positive trial results and successful monetization of pharmaceutical assets." Einhorn's Greenlight Capital also noted that it reduced its Teck Resources (TECK) long position into strength during Q1 and that the firm bought a "small position" in Liberty Global (LBTYA) during Q1.

Ferrari (RACE) announces that Ferrari S.p.A. has signed a multiyear partnership agreement with HP Inc. (HPQ), through which its brand will appear on racing properties of Scuderia Ferrari.

Baird raised the firm's price target on Danaher to $271 from $259 and keeps an Outperform rating on the shares. The firm said they reported 1Q results above expectations, helped by respiratory testing and bioprocessing upside. The company saw encouraging bioprocessing trends, with orders growing mid-single-digits, and noted normalization of large customer ordering patterns, with management expecting destocking to be largely complete by 2Q24-end.

Barclays raised the firm's price target on Danaher to $270 from $260 and keeps an Equal Weight rating on the shares post the Q1 report. The company's orders came in above expectations, the analyst tells investors in a research note. The firm says bioprocessing names continue to be favored by investors and that it does not see this changing in the near term.