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Fly News Breaks for June 13, 2019
TDOC
Jun 13, 2019 | 06:23 EDT
Bofa/Merrill analyst Allen Lutz initiated Teladoc with a Buy and $65 price target saying it is an "emerging crown jewel" with multiple industry tailwinds to drive upside. Lutz sees multiple near-term growth drivers supporting 20-30% organic growth through 2020 including utilization, behavioral health, Medicare Advantage, international, and TRICARE, United Health, and new clients. The analyst sees a favorable setup heading into 2020 given conservative revenue expectations and as some intermediate growth opportunities begin to bear fruit.
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