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Fly News Breaks for June 8, 2018
ABT, DXCM
Jun 8, 2018 | 06:52 EDT
JPMorgan analyst Robbie Marcus upgraded DexCom (DXCM) to Overweight from Neutral and raised his price target for the shares to $115 from $80. Glucose measurement is becoming an essential tool for patients and DexCom, with the launch of the G6, is the "clear market leader" from a technological standpoint, Marcus tells investors in a research note. Within two years the company is slated to have a low-cost, fully disposable option to counter Abbott's (ABT) Libre and address the Type 2 patient population, the analyst adds. He sees "significant upside" to both near-term estimates and Dexcom's product pipeline.