DexCom price target raised to $99 from $89 at Canaccord

Canaccord analyst William Plovanic raised the firm’s price target on DexCom (DXCM) to $99 from $89 and keeps a Buy rating on the shares. Canaccord said they are bullish on the Med-Tech sector heading into 2025 as they expect investor interest to increase given smid-cap valuations continue to remain depressed while M&A has picked up and the IPO market seems to have opened. They highlight how AI is changing the space and are seeing continued interest in value-based care in the US, and believe that med-tech is well positioned to help drive the trend for improving patient outcomes while also reducing overall costs.