New coverage for Northern OIL

Canaccord Genuity analyst Stephen Berman has initiated coverage on Wayzata-based Northern Oil and Gas with a "buy" rating. Northern Oil and Gas engages in acquisition, exploration and development of oil and gas fields. Berman likes that NOG is a pure play in the oil- and gas-rich regions of North Dakota and Montana. NOG does not operate wells. A key to its success is acquiring leases, leaving the drilling to others. "NOG has a good track record of picking up acreage at attractive prices," Berman wrote.

A buy for Shutterfly

Needham & Co. analyst Kerry Rice has reiterated his "buy" rating on Shutterfly Inc., the Redwood City, Calif.-based provider of digital personalized photo products and services. Kerry wrote in an Aug. 1 note that "as the company continues to execute on its strategy of expanding its product portfolio, production capacity, and optimizing customer economics, we can continue to expect upside."

Shutterfly plans to add a new production facility in Shakopee, for which Scott County officials approved a tax abatement on Aug. 20. Rice alluded to the Shakopee expansion in his report, saying "new facilities should support future growth, quality of service."

Patrick Kennedy