🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Wall Street analysts take opposite views on Insulet following share price decline

Published 08/21/2023, 08:51 AM
© Reuters.  Wall Street analysts take opposite views on Insulet (PODD) following share price decline
PODD
-

Citi raised Insulet (NASDAQ:PODD) Buy from Neutral in a note Monday, while Baird took the opposite approach and downgraded the stock to Neutral from Outperform.

Citi analysts told investors that the upgrade follows the stock's share price decline this year. However, they lowered the price target to $265 from $273.

"With the stock down 37% from its high (May 5, 2023) and down 29% YTD (essentially giving back the entire move from the Omnipod 5 launch), we are upgrading PODD to Buy from Neutral," they wrote.

Meanwhile, Baird analysts also lowered the firm's price target on PODD to $219 from $320 per share. They said that after the investment bank updated its 10-year insulin pump global market model and its company-specific revenue projections to account for recent survey results, they "now see ~$670M in lower potential revenue for PODD by 2033."

"We now see 12-month risk/reward more balanced for PODD," they said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.