UBS lowered the firm’s price target on Tandem Diabetes (TNDM) to $40 from $43 and keeps a Neutral rating on the shares. Despite “another quarterly beat and raise,” which the firm identifies as the company’s third consecutive such report, shares traded down, which the firm blames on “still unclear” upside conviction. The firm thinks the beat and raise suggests Tandem has “fully turned the corner,” and that fundamentals “should only continue to improve from here,” but it remains on the sidelines until it has more conviction in “sustainable drivers of sales upside,” the analyst says.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on TNDM:
- Tandem Diabetes price target lowered to $56 from $57 at Canaccord
- Tandem Diabetes price target lowered to $37 from $39 at Baird
- Tandem Diabetes Care Reports Strong Q3 Growth
- Closing Bell Movers: AppLoving up 29% after Q3 earnings beat
- Tandem Diabetes reports Q3 EPS (35c), consensus (40c)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
