Why Teladoc Crawled Only Marginally Higher on Thursday
All things being equal, when positive analyst coverage is initiated on a stock, it tends to pop on the news. Yet that wasn't necessarily the case with prominent telehealth specialist Teladoc Health (NYSE: TDOC) on Thursday. Although the shares traded as much as 13% higher on such a development, they ultimately cooled down to only a marginal gain on the day.
The initiator is D.A. Davidson, whose analyst Robert Simmons tagged Teladoc Health as a buy with a price target of $45 per share. This implies upside of nearly 20% from the shares' current level.
In Simmons' estimation, Teladoc is the clear leader in the telehealth sphere, thanks in no small part to the considerable scale it's established and the wide range of its products. He thinks that the company will continue to be the segment's bellwether, powering its overall growth and development.
Source Fool.com
