Truist initiated coverage of Tandem Diabetes (TNDM) with a Hold rating and $24 price target New launches should improve Tandem’s position in underpenetrated/growth Type 1 and Type 2 diabetes markets and the company can enhance its competitive positioning as Mobi and future designs eventually come to market, but the company still remains over indexed to a slower growth segment that is margin disadvantaged vs. patch, the analyst tells investors in a research note. Truist expects Tandem to grow revenues at 11% for 2024-2028, even as it loses share within growing markets.
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