Why Teladoc Health Was Not a Healthy Stock Tuesday
Teleadoc Health (NYSE: TDOC) was punished by the market on Tuesday, following a steep price target cut from an analyst. The telehealth specialist saw its share price erode by over 4%, well steeper than the 1.2% decline of the S&P 500 index.
Deutsche Bank analyst George Hill was the responsible party. This morning, Hill took an ax to his price target on Teladoc stock, chopping it by over 50% from $163 to $81 per share. He is, however, maintaining his hold recommendation. The reasoning behind the drastic price-target change was not immediately clear.
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Source Fool.com