Morgan Stanley lowered the firm’s price target on Insulet (PODD) to $185 from $208 and keeps an Equal Weight rating on the shares after new bottom-up work on the impact from GLP-1s by 2027. GLP-1s have been “understandably challenging for MedTech diabetes names” such as Insulet and Tandem Diabetes (TNDM) and the share price reactions seem to be “materially overdone” given that the firm’s work on the impact for Insulet and DexCom (DXCM) shows only about a 2% and 7% respective impact from GLP-1s by 2027, the analyst tells investors. However, visibility remains challenging so the firm remains Equal Weight “for now.”
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