UPDATE: J.P. Morgan Initiates Coverage on DexCom with Overweight Rating, $32 PT on Market Leader Position

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.