Baird analyst Jeff Johnson upgraded Insulet to Outperform from Neutral with a price target of $238, up from $180. While “not sounding the all-clear on the GLP-1 front,” the analyst contends that it has increasingly felt as if long-only and even some generalist portfolio mangers have begun to re-engage in the diabetes technology space and have started to again focus more on industry fundamentals than on GLP-1 risks and concerns, the analyst tells investors. The firm sees fundamental tailwinds for this stock into 2024, the analyst added.
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