Why Tandem Diabetes Care Stock Was Zooming Higher Today
Tandem Diabetes Care (NASDAQ: TNDM) was a standout stock as Tuesday's trading session barreled to a close. The insulin pump maker's stock price was nearly 10% higher in mid-afternoon trading, thanks largely to a recommendation upgrade from an analyst. That performance was well exceeding the 0.2% rise of the S 500 index at that point.
The upgrading party was Stifel's Mathew Blackman, who changed his Tandem recommendation from hold to buy after market close on Monday. In doing so, he set a price target of $37 per share, well up from his previous $24. The new target is 11% higher than the stock's current level.
In the analyst note detailing the change, Blackman zeroed in on the Mobi, which the specialty healthcare company describes as "The world's smallest, durable automated insulin delivery system."
Source Fool.com
