Stocks and Investing
Stocks and Investing
Thu, November 28, 2024
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Embecta upgraded to Buy from Neutral at BTIG
- BTIG upgraded Embecta (EMBC) to Buy from Neutral with a $26 price target Shares gained about 30% in Tuesday trading as investors rewarded
Embecta, a medical device company focused on diabetes care, was upgraded to a "Buy" rating from "Neutral" by BTIG analyst Marie Thibault. This upgrade was based on the company's strong performance in its core business, particularly in the U.S. where it holds a significant market share in insulin syringes and pen needles. The analyst highlighted that despite potential challenges like the loss of exclusivity for some products, Embecta's strategic initiatives, including new product launches and international expansion, are expected to drive growth. Additionally, the company's efforts to manage costs and improve operational efficiency were noted as positive factors contributing to the optimistic outlook. The price target set by BTIG for Embecta's stock reflects confidence in its future profitability and market position.
Read the Full Business Insider Article at [ https://markets.businessinsider.com/news/stocks/embecta-upgraded-to-buy-from-neutral-at-btig-1034071393 ]
Read the Full Business Insider Article at [ https://markets.businessinsider.com/news/stocks/embecta-upgraded-to-buy-from-neutral-at-btig-1034071393 ]
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