DexCom price target raised to $135 from $125 at Canaccord

Canaccord raised the firm’s price target on DexCom to $135 from $125 and keeps a Buy rating on the shares. The analyst said they delivered impressive results to kickstart 2023, beating on the top and bottom lines with a record Q of new patient adds. Revenue guidance was lifted given the strong Q1 performance and earlier-than-expected CMS T2 basal-only coverage, with coverage officially starting last week.