DexCom (DXCM) PT Raised to $655 at Jefferies

Jefferies analyst Raj Denhoy raised the price target on DexCom (NASDAQ: DXCM) to $655.00 (from $610.00) while maintaining a Buy rating.

The analyst commented, "XCM posted a $31mn/$0.25 beat on accelerating T2 adoption and OUS momentum which was supplemented by G&A leverage gains. With winds firmly at their back, full-year guide was raised ~$63mn or +300bps at midpoint inclusive of 100bps from the recent distributor deal close. Momentum is now supplemented with the Dexcom ONE soft launch with G7 EU/US timelines largely intact. With the outlook for 2022 and beyond still overly bullish we tweak #s and stay @ Buy."

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