Insulet gets 'outperform' rating as Evercore starts coverage
Brokerage Evercore ISI starts coverage on insulin device maker Insulet PODD.O with "outperform" rating and a PT of $370
PT represents a ~27% upside to the stock's last close
Brokerage says Insulet is poised to remain the leading player in the insulin pump market
Expects demand for its tubeless technology to keep growing for years
Insulet's tubeless, fully disposable Omnipod design, its broad availability through retail pharmacies, and its capture of more than 65% of new automated insulin delivery users underpin the company's growth outlook, according to Evercore ISI
"We suspect there will be multiple winners in the large and underpenetrated pump market. However, we believe PODD will remain the market leader, as new entrants will be faced with high barriers to entry"
As of last close, PODD stock up 11.7% YTD
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