Dendreon Shares Climb 37%, While Target’s Stock Dips on Guidance
As the New Year kicks into gear, analysts are putting forth the legword to review public companies and provide investors with direction. Here is a basket of important companies to review following new analyst evaluation releases this morning:
Safeway Inc. (NYSE:SWY): Cantor Fitzgerald says Safeway earnings are still under pressure. Cantor felt Safeway made a positive strategic move when it sold 16 Genuardi’s stores in the Philadelphia market for $106 million. Other assets are expected to have negative effects and Cantor reiterates a Sell rating.
Dendreon Corp. (NASDAQ:DNDN): Brean Murray sees changes for Dendreon with the approaching release of Zytiga Ph III results and MDV3100 approval, but still has a Sell rating and target of $6.
Plexus Corp. (NASDAQ:PLXS): Plexus strength is a selling opportunity, says Ticonderoga. Ticonderoga believes Plexus’ (NASDAQ:PLXS) asset acquisition of Germany based Kontron-AG is a negative as Kontron has large exposure to Europe and is engaged in a failed industry model of paying for revenues with asset purchase agreements. The analyst recommends using Plexus strength as a selling opportunity and reiterates its Sell rating.
Ocz Technology Group Inc. (NASDAQ:OCZ): Craig-Hallum looks for positive news from OCZ Technology at the Consumer Electronics Show. The analyst sees favorable risk/reward and expects announcement of major customers. The firm has OCZ Buy rated.
Target Corp. (NYSE:TGT): RW Baird lowered Target from $59 to $58. After disappointing December results lower fourth quarter guidance, RW Baird still thinks Target has good value if an investor is patient and stays with an Outperform rating.
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