Trupanion upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler analyst John Barnidge upgraded Trupanion (TRUP) to Overweight from Neutral with an unchanged price target of $57. The firm sees improving investor sentiment and a “number of catalysts on the horizon” for the shares. Trupanion’s input costs are improving closer to long-term averages while catalysts include the setting of 2025 guidance with drag from Pet’s Best Insurance better understood while the underlying subscription business retains “strong” growth characteristics, the analyst tells investors in a research note.