In a report published Friday, J.P. Morgan analyst Kimberly Gailun initiated coverage on DexCom DXCM with an Overweight rating and $32.00 price target.
In the report, J.P. Morgan noted, “We are initiating coverage of Dexcom with an Overweight rating and $32 December 2014 price target. Dexcom is the leader in the rapidly growing market for continuous glucose monitoring serving Type 1 and 2 diabetics. The stock has had a great run this year, and while a better entry point would be nice, we simply don't see the event that causes a pullback. We expect 2Q momentum to continue in 3Q13 and beyond.”
DexCom closed on Thursday at $27.51.
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