Guggenheim analyst David Westenberg said most of the near-term bear arguments on Trupanion were silenced by the company's trends in Q3 and although the stock is up 52% since October 10, he thinks there is still upside potential, noting that the stock had been at a 52-week low when it began its move upward. Though longer-term bear arguments seem to remain, he takes the bullish side on the strongest of those, Westenberg added. The analyst, who raised his revenue projections for FY19, FY20, and FY21 for Trupanion, keeps a Buy rating on the stock and bumped up his price target for the shares to $36 from $35.