Analyst Insights: Dendreon, PetSmart, hiSoft, Wesport, Universal Health March 1st

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Dendreon Corp. (NASDAQ:DNDN): Imperial Capital believes the potential for near-term downside risk is significant for Dendreon shares given the lack of clarity around Provenge’s market potential. The firm thinks the drug’s disappointing launch continues and maintains an Underperform rating on Dendreon shares with a $4 price target.

PetSmart, Inc.(NASDAQ:PETM): Needham raised its estimates and price target for PetSmart following the company’s better than expected Q4 results and maintains a Buy rating on the stock.

hiSoft Technology International Ltd.(NASDAQ:HSFT): Cowen said HiSoft Technology continues to execute well as it handled many of the issues that impacted its earnings last year. The firm said they expect the company to benefit from secular growth in China’s ITS offshore outsourcing sector and has successfully weathered the impact of wage inflation. Shares are Outperform rated.

Westport Innovations Inc.(NASDAQ:WPRT): ThinkEquity increased its target on Westport after the company reported higher than expected revenue for its December quarter. The firm maintains a Buy rating.

Universal Health Services Inc.(NYSE:UHS): Susquehanna raised its price target on Universal Health following Q4 results. The firm cited strong behavioral trends and valuation. Shares are Positive rated.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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