DexCom upgraded to Strong Buy from Outperform at Raymond James

Raymond James analyst Jayson Bedford upgraded DexCom to Strong Buy from Outperform with a price target of $138, up from $127. A likely inflection/acceleration in revenue growth beginning in Q2 is not fully factored into current sentiment, the analyst tells investors in a research note. The firm is incrementally confident that the type 2 market will be a bigger driver than initially expected, and says the competitive risks are largely known and are more skewed to 2024.