Why Teladoc Health Stock Is Surging Today
Shares of Teladoc Health (NYSE: TDOC) surged 7.9% at 10 a.m. ET Tuesday, and while it cooled off a bit soon after, the stock was still trading 5% higher as of 11:30 a.m. ET Tuesday.
An analyst slashed Teladoc stock's price target by a whopping 44% today. Yes, you read that right; and you could have expected the telehealth stock to fall after such a sharp price cut. The market, though, is paying greater attention to something important the analyst said, especially ahead of Teladoc's upcoming first-quarter earnings report.
Sean Dodge from RBC Capital cut his price target on Teladoc stock to $120 per share from $215 a share, as reported by TheFly.com. Dodge doesn't see any "meaningful inflection" in Teladoc's stock price until later this year.
Source Fool.com
