Analyst Alerts: General Motors, Valero, Copa Holdings, Dendreon June 4th
General Motors Corporation (NYSE:GM): General Motors’ steps to derisk its pension are a long-term positive but fears about Europe will continue to keep investors out of the stock in the near-term, according to Jefferies, which keeps a Hold rating and $25 price target on shares.
Valero Energy Corp. (NYSE:VLO): After Valero reported lower than expected Q1 EPS, Argus nevertheless increased its 2012 EPS estimate for the company, as the firm expects the company to benefit from oil price decreases and an increased discount between WTI and other crude oil. The firm maintains a Buy rating on the stock.
Copa Holdings SA (NYSE:CPA): Imperial Capital raised its estimates and price target for Copa Holdings citing the positive impact of lower fuel prices and maintains an Outperform rating on the stock.
Dendreon Corp. (NASDAQ:DNDN): Jefferies views data published on Johnson & Johnson’s (NYSE:JNJ) Zytiga as hurting the outlook for Dendreon’s (NASDAQ:DNDN) Provenge. The firm said it thinks Medivation’s (NASDAQ:MDVN) MDV3100 could match or beat Zytiga on overall survival, meaning Dendreon’s drug could be relegated to a niche spot in the market. Dendreon shares remain Underperform rated by Jefferies with a $5 price target.
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