Dendreon Corp. (NASDAQ: DNDN): Collins Stewart late Monday initiated coverage on Dendreon with a Buy rating and a price target of $55. In a research note to clients, the firm said , "We believe DNDN is emerging as a leading mid-cap biotech company given the blockbuster potential of its first-in-class immunotherapy, Provenge, for the treatment of castrate-resistant prostate cancer (CRPC)."
XL Group plc (NYSE: XL): Goldman Sachs upgraded its rating on the company to Buy from Neutral. The firm lifted its price target to $28 from $24.
Jacobs Engineering Group Inc. (NYSE: JEC): Goldman Sachs upgraded the company to Neutral from Sell. The firm raised its price target on the stock to $56 from $49.
Walgreen Co. (NYSE: WAG): Credit Suisse upgraded its rating on the company to Outperform from Neutral, citing the company's fundamental turnaround, underappreciated generic opportunity, valuation, and Drugstore.com opportunity.
Safeway Inc. (NYSE: SWY): Citigroup this morning upgraded Safeway to Hold from Sell, citing the company's ability to pass-through food inflation price increases and its free cash flow yield. The firm raised its price target on the stock to $24 from $18.
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