Tandem Diabetes return to growth ‘imminent,’ says Lake Street

Lake Street analyst Brooks O’Neil expects “one more weak quarter” from Tandem Diabetes, but expects 2023 revenue to grow 10.5% this year and argues that “the rumors of Tandem’s demise have been greatly exaggerated.” The firm, which contends that Mobi will be a key factor in the sustainability of Tandem’s return to growth in 2024, thinks “the tide is beginning to turn for Tandem and we see a unique opportunity now to be greedy while others remain full of fear.” The firm maintains a Buy rating and $60 price target on Tandem shares.