Tandem Diabetes Care (TNDM) PT Raised to $27 at Truist Securities

Truist Securities analyst Richard Newitter raised the price target on Tandem Diabetes Care (NASDAQ: TNDM) to $27.00 (from $24.00) while maintaining a Hold rating.

The analyst commented: "Solid 4Q Beat; PC Shift Has Moving Parts Trading Off NT Rev For LT Price/mgn Benefit; A 4Q beat on incremental pharmacy channel (PC) traction & better US pump shipments were a +ve. So too is the emerging structural shift to PC (goal is to get 80% of the installed base over 2-3 yrs) even though it means lower '26E rev, as it shld also portend higher out-yr rev/profit. The stock is regaining some lost ground (+29% this AM v. IHI flat)---appropriately in our view---on a pot'l accel. rev/profit growth trajectory PC pricing could engender over time. Our PT goes to $27 (v $24) on a slightly higher multiple. Further upside depends on how quickly the PC curve steepens & interplays w/ a lot of moving parts in the model, which we walk through below. Reit. Hold."

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