DarioHealth price target lowered to $16 at Stifel after reverse stock split

Stifel analyst David Grossman adjusted the firm’s price target on DarioHealth (DRIO) to $16 from $1.25 and keeps a Buy rating on the shares. While “encouraged” by management’s ability to lower expenses and continue to sign meaningful new customer relationships, the firm views the stock as unlikely to regain momentum until there are visible signs of accelerating revenue growth and a path to profitability. Following the 20-1 reverse stock split, the firm notes that its prior price target of $1.25 would have equated to $25.