Citi analyst Joanne Wuensch downgraded Tandem Diabetes (TNDM) to Sell from Neutral with a price target of $14, down from $24. The firm believes the impact of potential competitive bidding on pump manufacturers will be a focus for investors this quarter. Amid mounting competitive pressures, it will be difficult for Tandem shares to rally, the analyst tells investors in a research note. Citi believes the stock will remain under pressure.
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