Tandem Diabetes price target lowered to $58 from $63 at Canaccord

Canaccord analyst William Plovanic lowered the firm’s price target on Tandem Diabetes (TNDM) to $58 from $63 and keeps a Buy rating on the shares. The firm said they delivered a solid overall Q4/24 but guidance came in a little light and more conservative than expected. In context, management is broadcasting FY25 as a transition year with a pipeline of important products, launches, and enhancements, colored by a US salesforce realignment in 1H/25 and a transition to a direct sales model OUS impacting 2H/25.