Will Teladoc Stock Be a $200 Stock?
Sandy Draper, an analyst from SunTrust has raised his bank's price target on shares of Teladoc Health (NYSE: TDOC) in response to increased utilization influenced by stay-at-home orders. Draper raised Suntrust's price target on shares of the telehealth pioneer to an even $200 from the previous target of $144 set in April.
At recent prices, SunTrust's new price target suggests a 10% gain once the market comes to the same conclusions as Draper. Teladoc's stock soared past $195 this morning but the price settled to $185 by the afternoon.
Teladoc's top line is headed in the right direction at a fast enough pace. In the first quarter, Teladoc delivered 2 million medical visits which pushed total revenue 29% higher year over year to $137 million.
Source Fool.com
