MiniMed initiated with an Overweight at Wells Fargo

Wells Fargo initiated coverage of MiniMed (MMED) with an Overweight rating and $26 price target The firm says the company offers a “differentiated, full-stack” automated insulin delivery platform with a “strong pipeline.” MiniMed addresses a large, growing, and underpenetrated market, the analyst tells investors in a research note. Wells views the company’s integrated platform as a “key competitive advantage.”