Tandem Diabetes Care (TNDM) PT Raised to $55 at Baird

Baird analyst Jeff Johnson raised the price target on Tandem Diabetes Care (NASDAQ: TNDM) to $55.00 (from $46.00) while maintaining a Outperform rating.

The analyst commented, "TNDM announced after market close today FDA approval of its t:slim X2 pump as an "alternate controller enabled" (ACE) infusion pump. Simply put, this is the "iPump" designation investors have been waiting for, and while there may not be direct financial implications from this news (our 2019/2020 estimates are unchanged today), the iPump designation should further differentiate TNDM and de-risk the 2020 development timeline for t:sport, both of which we believe can help shares sustain their recent momentum."

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