Tandem Diabetes price target lowered to $50 from $70 at Piper Sandler

Piper Sandler analyst Matt O’Brien lowered the firm’s price target on Tandem Diabetes to $50 from $70 and keeps an Overweight rating on the shares. The company’s Q4 results slightly missed and guidance for the year was lowered modestly on sales while he EBITDA outlook requires a steep ramp in the back half of the year, the analyst tells investors in a research note. Piper expects more pressure on the stock today but does "not see a reason to abandon the name now."