Piper Sandler analyst Matt O’Brien upgraded Tandem Diabetes (TNDM) to Overweight from Neutral with a price target of $33, up from $21. Piper upgrades the shares following an analysis of Tandem’s pharmacy pricing benefit and international direct market opportunities. The firm sees “meaningful upside” to the company’s revenue estimates over the next three years. This, coupled with a “modest” valuation, should push Tandem shares higher from current levels, the analyst tells investors in a research note. Piper thinks the company’s new tubeless Mobi product should buoy pump shipments and help Tandem get back to taking some share in the market.
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