Stock Market News

Teladoc Initiated with Buy at DA Davidson After Establishing Leadership in Telehealth

2022.08.12 22:14

Teladoc Initiated with Buy at DA Davidson After Establishing Leadership in Telehealth
Teladoc (TDOC) Initiated with Buy at DA Davidson After Establishing Leadership in Telehealth

By Sam Boughedda

A D.A. Davidson analyst initiated coverage of Teladoc (NYSE:TDOC) with a Buy rating and $45 price target in a research note to clients on Friday.

The analyst said they believe Teladoc has established itself as the leader in telehealth, with operational scale and completeness of offerings that allow it to offer differentiated service to customers.

“COVID created unprecedented tailwinds for the market, which turned into headwinds; we believe we are now at stable to growing penetration rates for telehealth, and that Teladoc is well-positioned to continue to lead the market’s growth and evolution, and see upside to the stock at current levels,” wrote the analyst.

The analyst added that the telehealth firm has extensively used internal development and M&A to create the most complete suite of virtual medical offerings and while it still has work to do to integrate the offerings, “the ability to land in multiple ways, and then to cross-sell in multiple ways, gives it a strong flywheel to keep delivering results.”

“Its entry into primary care is likely to create stickier, more recurring relationships with patients. Large acquisitions are unlikely in the near future, but we expect the company to continue to find tuck-in technologies to supplement its offerings,” added the analyst.

Shares of Teladoc have rallied 6.45% Friday.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 76,221.42 0.44%
vested-xor
Vested XOR (VXOR) $ 3,405.08 99,999.99%
ethereum
Ethereum (ETH) $ 2,900.05 7.78%
tether
Tether (USDT) $ 1.00 0.09%
solana
Solana (SOL) $ 197.03 3.99%
bnb
BNB (BNB) $ 601.69 1.97%
usd-coin
USDC (USDC) $ 1.00 0.03%
xrp
XRP (XRP) $ 0.557249 2.54%
dogecoin
Dogecoin (DOGE) $ 0.194405 0.94%
staked-ether
Lido Staked Ether (STETH) $ 2,900.48 7.81%
cardano
Cardano (ADA) $ 0.399577 11.17%
tron
TRON (TRX) $ 0.160785 1.35%
the-open-network
Toncoin (TON) $ 4.95 4.27%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,425.39 7.53%
shiba-inu
Shiba Inu (SHIB) $ 0.000019 0.97%
avalanche-2
Avalanche (AVAX) $ 27.69 3.73%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 75,994.36 0.44%
weth
WETH (WETH) $ 2,897.43 7.78%
chainlink
Chainlink (LINK) $ 12.66 4.84%
bitcoin-cash
Bitcoin Cash (BCH) $ 384.83 2.46%
sui
Sui (SUI) $ 2.32 0.07%
polkadot
Polkadot (DOT) $ 4.17 2.18%
leo-token
LEO Token (LEO) $ 6.25 0.30%
usds
USDS (USDS) $ 1.00 0.36%
litecoin
Litecoin (LTC) $ 72.25 2.26%
uniswap
Uniswap (UNI) $ 9.03 4.33%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,049.22 7.81%
near
NEAR Protocol (NEAR) $ 4.29 2.35%
aptos
Aptos (APT) $ 9.87 4.15%
pepe
Pepe (PEPE) $ 0.000011 14.31%
bittensor
Bittensor (TAO) $ 514.63 1.66%
internet-computer
Internet Computer (ICP) $ 7.87 0.62%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.42 0.47%
dai
Dai (DAI) $ 1.00 0.03%
monero
Monero (XMR) $ 164.54 0.69%
stellar
Stellar (XLM) $ 0.10207 5.45%
ethereum-classic
Ethereum Classic (ETC) $ 20.29 4.75%
kaspa
Kaspa (KAS) $ 0.115805 3.06%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.10%
whitebit
WhiteBIT Coin (WBT) $ 19.65 1.57%
aave
Aave (AAVE) $ 184.73 7.85%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.349086 4.65%
blockstack
Stacks (STX) $ 1.69 1.27%
crypto-com-chain
Cronos (CRO) $ 0.093816 10.13%
okb
OKB (OKB) $ 40.35 2.47%
dogwifcoin
dogwifhat (WIF) $ 2.40 0.04%
first-digital-usd
First Digital USD (FDUSD) $ 1.00 0.07%
arbitrum
Arbitrum (ARB) $ 0.587895 8.65%
mantle
Mantle (MNT) $ 0.675469 13.68%
filecoin
Filecoin (FIL) $ 3.79 3.18%