Insulet upgraded to Outperform from Peer Perform at Wolfe Research

Wolfe Research analyst Mike Polark upgraded Insulet to Outperform from Peer Perform with a $200 price target. The analyst cites the company’s growing type 1 diabetes share gains, outside the U.S. catalysts, profitability potentially a “coiling spring,” and a “less demanding” share valuation for the upgrade. In the core U.S. type 1 market, Insulet has been and will likely remain a share gainer, the analyst tells investors in a research note. Wolfe is also more comfortable underwriting growth for the type 2 pump market and believes Insulet is likely the largest beneficiary.