Insulet price target raised to $234 from $220 at Barclays

Barclays raised the firm’s price target on Insulet (PODD) to $234 from $220 and keeps an Equal Weight rating on the shares post the Q3 report. The firm says that despite modest 1% upside to consensus estimates for U.S. sales, the outside U.S. beat and excitement over T2 were enough to drive Insulet shares up over 9% to a 12-mo high valuation. However, the firm sees competition coming in T2, tubeless and in the pharmacy channel and expect the company’s multiple to moderate.