Outset Medical price target adjusted to $15 at Stifel after reverse stock split

Stifel analyst Rick Wise adjusted the firm’s price target on Outset Medical (OM) to $15 from $6 and keeps a Buy rating on the shares after Outset’s 1-for-15 reverse stock split became effective yesterday. The firm’s model now estimates Q1 diluted shares outstanding at about 17.6M, along with the assumption of slight share count increases in future quarters and years, the analyst noted.