BUZZ-Insulet gets 'outperform' rating as Evercore starts coverage

Reuters12-16
BUZZ-Insulet gets 'outperform' rating as <a href="https://laohu8.com/S/EVR">Evercore</a> 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

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com))

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