UPDATE: Cantor Fitzgerald Initiates Coverage on Cross Country Healthcare

According to a research report published this morning, Cantor Fitzgerald has initiated Cross Country Healthcare

with a Buy rating and $6 PT. In the report, Cantor Fitzgerald said, "After years of economic headwinds, Cross Country's fundamentals have improved, and we believe that the stock, which is very near its all-time low, is attractive at current levels. Nurse staffing volume is half of what it was in 2007, and margins are down by two-thirds from their peak, but although demand has already improved, there is substantial potential upside. We expect a big earnings ramp over the next four to six quarters to push the stock higher." Cross Country Healthcare closed Friday at $4.03.