BTIG upgrades Masimo after investor day eases skepticism

BTIG analyst Marie Thibault upgraded Masimo to Buy from Neutral with a $180 price target following the company’s investor day. The number of new products unveiled and planned for launch next year is "impressive" and there may be upside to revenue estimates, Thibault tells investors in a research note. In addition, Masimo’s long-range targets "map a sustainable outlook that appropriately balances revenue growth and spending," says the analyst. "We were admittedly skeptical ahead of this event, but are starting to understand how the Sound United purchase can help support broad adoption of consumer health products," writes Thibault.