DexCom price target raised to $140 from $130 at Stifel

Stifel analyst Mathew Blackman raised the firm’s price target on DexCom to $140 from $130 and keeps a Buy rating on the shares. To Stifel, DexCom’s Q1 checked "all the important boxes," such as the company’s revenue beat matching "whisper" expectations, a record new patient start number, meaningfully better GM performance despite headwinds, and continued confidence in the Basal opportunity, the analyst tells investors. The second half of 2023 and 2024 set-up remains very constructive with upside potential, Stifel says.