Tactile Systems upgraded to Buy from Neutral at BTIG

BTIG upgraded Tactile Systems (TCMD) to Buy from Neutral with a $28 price target The firm views the company’s Q3 results as “very encouraging.” Tactile beat expectations for the second straight quarter and is generating improved performance from productivity enhancements, sales force expansion, new products, and improved reimbursement dynamics, the analyst tells investors in a research note. BTIG believes the shares are now setup well for the next 12-24 months and can support a higher multiple. Tactile Systems “is in the midst of a turnaround” and it is time to come off the sidelines again, contends the firm.