DexCom price target lowered to $132 from $145 at Stifel

Stifel analyst Mathew Blackman lowered the firm’s price target on DexCom (DXCM) to $132 from $145 and keeps a Buy rating on the shares. Ahead of DexCom’s Stelo and Abbott’s (ABT) Rio/Lingo U.S. launches, the firm says its still-expanding diligence identifies material interest in CGM, not only from T2 patients, but also from healthy U.S. consumers. DexCom shares appear “stuck-in-the-mud” as investors digest CGM competitive dynamics, but the firm thinks the constructive non-Insulin/non-Diabetic feedback captured so far, along with the current expectations and valuation, suggest Stelo’s launch could provide the upside needed to push shares higher.