Analyst initiations: STP, FSLR, STD, INAP and NTGR

MOST NOTEWORTHY: Suntech Power, First Solar, Banco Santander, Internap and NetGear were today's noteworthy initiations:

Merriman initiated shares of Suntech Power (NYSE: STP) with a Buy rating and believes the company is benefiting from strong worldwide demand for solar PV technology. The firm suggests a potential 12-month stock price range of $56-$64.
Merriman also started shares of First Solar (NASDAQ: FSLR) with a Sell rating, as they believe the company's market is limited to ground-based systems because of its cadmium-based technology, which they feel could lead to environment concerns over time.
Deutsche Bank resumed coverage of Banco Santander (NYSE: STD) with a Buy rating. The firm is positive on the bank's agreement with ABN Amro (NYSE: ABN) and feels the company has a lack of exposure to risky assets.
Jefferies believes Internap (NASDAQ: INAP) is well-positioned with its suite of services to address a rapidly growing market, starting shares off with a Buy rating and $20 target.
Nollenberger believes NetGear (NASDAQ: NTGR) provides a pure-play opportunity to capitalize on the global penetration of broadband connectivity. The firm resumed coverage with a Buy rating and $36 target.

OTHER INITIATIONS:

ThinkEquity initiated Google (NASDAQ: GOOG) with a Buy rating and $800 target and Yahoo! (NASDAQ: YHOO) with an Accumulate rating.
Banc of America initiated U.S. land drillers, including Grey Wolf (AMEX: GW), Nabors Industries (NYSE: NBR) and Patterson-UTI Energy (NASDAQ: PTEN) with Neutral ratings and Parker Drilling (NYSE: PKD) with a Buy rating.