Citi analyst Joanne Wuensch upgraded Tandem Diabetes to Buy from Neutral with a price target of $57, up from $40. The company is likely through its negative revision cycle and as Mobi ramps, the analyst tells investors in a research note. The firm believes Tandem’s guidance screens conservatively as it only relies on 70% patient renewals and flat to down new patient starts. Citi is most encouraged by early progress with Mobi which management highlighted is outpacing expectations.
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