Analyst Alerts: VeriFone, Dendreon, TD Bank May 25th
VeriFone Systems, Inc (NYSE:PAY): Deutsche Bank recommends selling shares of VeriFone following the company’s Q1 results and reiterates a $40 price target on the stock. The firm cites VeriFone’s poor free cash flow and lack of financial transparency for its Sell rating. Citigroup believes VeriFone reported strong Q2 results and that the company is not using the strengthening U.S. dollar as an excuse. Citi’s said its analysis indicates the company’s currency headwinds are real. The firm lowered its price target for VeriFone shares to $55 from $57 but said it’s a buyer of the name on the post-earnings sell-off.
Dendreon Corp. (NASDAQ:DNDN): After attending the American Urology Association meeting, Jefferies says physician sentiment towards Dendreon’s prostate cancer drug Provenge remains lukewarm. The firm continues to believe Provenge will not obtain a firm market share before competition comes in and keeps an Underperform rating on Dendreon shares.
The Toronto-Dominion Bank (NYSE:TD): TD Bank added to Focus List at Canaccord.
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