Why Piper Sandler Just Upgraded Tempus AI (TEM) Stock to Overweight
TLDR
- Piper Sandler upgraded Tempus AI from Neutral to Overweight, raising its price target from $56 to $76
- TEM stock rose around 2.1-2.5% in premarket trading Tuesday
- The analyst cited three growth drivers: the Personalis acquisition, a positive INTerpath-001 study readout, and FDA approval of the xT CDx test
- The Personalis deal values each share at $16.25, paid in Tempus Class A stock, with Tempus able to elect cash for up to half the stock
- Canaccord Genuity reiterated a Buy rating at $80 following the S-4 filing on August 31
Tempus AI (TEM) climbed between 2.1% and 2.5% in premarket trading Tuesday after Piper Sandler analyst David Westenberg upgraded the stock from Neutral to Overweight and raised his price target to $76 from $56.
The upgrade marks a shift in how Westenberg views the stock. His previous Neutral rating was based on the view that TEM’s valuation was being driven by AI sentiment rather than the actual performance of its diagnostics and data businesses.
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