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Fly News Breaks for April 16, 2019
TDOC
Apr 16, 2019 | 16:48 EDT
Stephens analyst Jacob Johnson initiated Teladoc with an Overweight rating and a price target of $75, saying the company is an "industry leader" in the telehealth industry which is undergoing "considerable growth" that is still in its "early innings". The analyst also notes that any M&A by Teladoc should "increase the value of its platform by adding capabilities and geographies", adding that while its gross margins may decline as a result of a "shifting revenue mix," the company's operating leverage should result in expanding EBITDA margins. Johnson further states that Teladoc shares are not cheap, but still trade "at a discount to high-growth healthcare and tech peers."
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