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) $ 98,338.35 0.19%
ethereum
Ethereum (ETH) $ 3,388.32 1.17%
tether
Tether (USDT) $ 1.00 0.04%
solana
Solana (SOL) $ 252.78 1.50%
bnb
BNB (BNB) $ 659.10 1.52%
xrp
XRP (XRP) $ 1.46 0.69%
dogecoin
Dogecoin (DOGE) $ 0.425612 3.17%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 1.04 2.57%
staked-ether
Lido Staked Ether (STETH) $ 3,386.07 1.25%
tron
TRON (TRX) $ 0.208964 3.49%
avalanche-2
Avalanche (AVAX) $ 43.09 1.39%
stellar
Stellar (XLM) $ 0.515671 10.44%
the-open-network
Toncoin (TON) $ 6.11 5.53%
shiba-inu
Shiba Inu (SHIB) $ 0.000026 4.61%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,012.60 1.05%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,996.26 0.41%
polkadot
Polkadot (DOT) $ 9.16 1.69%
chainlink
Chainlink (LINK) $ 18.03 1.04%
bitcoin-cash
Bitcoin Cash (BCH) $ 511.05 0.76%
weth
WETH (WETH) $ 3,386.45 1.32%
sui
Sui (SUI) $ 3.43 1.71%
pepe
Pepe (PEPE) $ 0.00002 3.58%
near
NEAR Protocol (NEAR) $ 6.90 2.58%
leo-token
LEO Token (LEO) $ 8.68 0.15%
litecoin
Litecoin (LTC) $ 96.59 5.40%
uniswap
Uniswap (UNI) $ 11.20 0.17%
aptos
Aptos (APT) $ 12.34 4.75%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,567.68 1.18%
internet-computer
Internet Computer (ICP) $ 11.61 0.70%
hedera-hashgraph
Hedera (HBAR) $ 0.143216 5.53%
usds
USDS (USDS) $ 1.00 0.00%
crypto-com-chain
Cronos (CRO) $ 0.189075 5.13%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.561732 2.97%
ethereum-classic
Ethereum Classic (ETC) $ 28.89 4.80%
render-token
Render (RENDER) $ 7.92 1.14%
bittensor
Bittensor (TAO) $ 527.33 2.98%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.05%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.48 3.83%
kaspa
Kaspa (KAS) $ 0.152321 1.65%
bonk
Bonk (BONK) $ 0.000047 1.37%
whitebit
WhiteBIT Coin (WBT) $ 24.45 1.23%
dai
Dai (DAI) $ 1.00 0.04%
arbitrum
Arbitrum (ARB) $ 0.847671 4.04%
vechain
VeChain (VET) $ 0.04255 1.40%
cosmos
Cosmos Hub (ATOM) $ 8.61 4.61%
okb
OKB (OKB) $ 55.83 2.99%
filecoin
Filecoin (FIL) $ 5.54 6.24%
blockstack
Stacks (STX) $ 2.22 4.11%
mantra-dao
MANTRA (OM) $ 3.69 3.04%