Dj Dexcom Price Target Raised To $104.00/Share From $101.00 By Citigroup

Investing.com -- Citi made several rating changes in the U.S. MedTech and Life Science Tools sectors, upgrading Medtronic (NYSE:MDT) to "Buy" from "Neutral" and lowering Tandem Diabetes Care (NASDAQ:TNDM) to "Neutral/High Risk" from "Buy."

The bank raised its price target on Medtronic to $107 from $92, citing improving growth drivers, including strength in cardiac ablation and renal denervation.

Tandem Diabetes was downgraded due to increased uncertainty around its 2025 guidance, with Citi cutting its price target to $24 from $35.

“We expect the 1Q25 reporting cycle to serve as the next catalyst for MedTech, with quarter-end right around the corner. Between now and then, we expect additional language out of Washington D.C. to increase near term volatility,” analyst at Citi said.

In Life Science Tools, Citi upgraded Charles River Laboratories to "Neutral" from "Sell," upgraded Laboratory Corp of America (NYSE:LH) to "Buy," and downgraded Quest Diagnostics (NYSE:DGX) to "Neutral."

In other changes, Citi raised its price target on Abbott Laboratories (NYSE:ABT) to $160 from $135 and Dexcom (NASDAQ:DXCM) to $104 from $101 while lowering its target on Sight Sciences (NASDAQ:SGHT) to $3 from $5.