DexCom price target raised to $150 from $134 at BTIG

BTIG raised the firm’s price target on DexCom to $150 from $134 and keeps a Buy rating on the shares. The analyst cites the company’s FY25 guidance range at its Investor Day presentation last week, noting that the firm had already anticipated a conservative outlook from the management, but DexCom’s enthusiastic vision for the future CGM total addressable market is the more important takeaway. Some investors may have wanted the revised revenue and margin outlook to more closely reflect the potential for upside from the company’s positive updates, but BTIG has come away from the event with greater confidence in DexCom’s ability to repeatedly outpace expectations, the firm tells investors in a research note.