Tandem Diabetes price target lowered to $56 from $57 at Canaccord

Canaccord lowered the firm’s price target on Tandem Diabetes (TNDM) to $56 from $57 and keeps a Buy rating on the shares. The firm said their thesis remains intact but comments around 2025 guidance methodology is likely to weigh on the stock, though management did not give specific guidance but rather reminded investors of the methodology. Q3’s strength was on the back of continued momentum from Q2, driven by Tandem Mobi’s form factor and widespread adoption of AID technology.