Piper Sandler analyst Matt O’Brien raised the firm’s price target on DexCom (DXCM) to $100 from $90 and keeps an Overweight rating on the shares. The firm notes the company reported Q2 results, which beat on the top and bottom lines. The domestic business was much better than we had modeled, with international solid too. Management modestly raised the midpoint of its revenue outlook for the full year but by less than the beat in Q2, which might be a little disappointing, but Piper believes the company is trying to be conservative in order to keep delivering upside, along with a CEO transition that was announced.
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