Tandem Diabetes price target raised to $16 from $14 at Truist

Truist analyst Richard Newitter raised the firm’s price target on Tandem Diabetes (TNDM) to $16 from $14 and keeps a Hold rating on the shares as part of a broader research note previewing Q3 results in MedTech. The firm expects “healthy” Q3 revenue and earnings across its coverage but also braces for “stock volatility”, with new money feeling notably absent from the space, the analyst tells investors in a research note. Similar to Q2, specialist and fund positioning could be poised to drive excessive reactions on anything counter to crowded positioning, Truist states, adding that it is more inclined to be positive on “cleaner” names where there is less perceived controversy heading into the quarter.