Trupanion price target lowered to $65 from $75 at Jefferies

Jefferies analyst Corey Grady lowered the firm’s price target on Trupanion to $65 from $75 and keeps a Buy rating on the shares. Following the "unexpected" executive departures, the firm has left its estimates intact and believes Trupanion’s growth and margin recovery opportunity are unchanged, but acknowledges higher near-term risks to execution. Shares could remain under pressure until a full update is issued, but with the stock down about 32% since Thursday Jefferies believes risks are reflected in the share price.