UPDATE: Deutsche Bank Initiates Coverage on Tandem Diabetes Care on Fair Valuation

In a report published Monday, Deutsche Bank analyst Kristen Stewart initiated coverage on Tandem Diabetes Care (NASDAQ: TNDM) with a Hold rating and $26.00 price target.

In the report, Deutsche Bank noted, “We are initiating coverage of Tandem Diabetes (TNDM) with a Hold rating and a PT of $26. We see Tandem as an exciting story within the diabetes management space and believe the company is poised to capture share with its t:slim insulin pumps and next-generation products. TNDM's IPO priced at $15.00 and since Nov 14, the stock has appreciated 65% to $24.79 (Dec 6 closing price). Thus, despite our positive view on the company's fundamentals and its prospects, given the stock's recent move we believe the stock is largely fairly valued at current levels.”

Tandem Diabetes Care closed on Friday at $24.79.