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Fly News Breaks for November 21, 2019
TDOC
Nov 21, 2019 | 16:15 EDT
RBC Capital analyst Sean Dodge initiated coverage of Teladoc with an Outperform rating and $100 price target. The company is "approaching its tipping point" as utilization should grow "significantly" over the coming years, Dodge tells investors in a research note. He calls Teladoc the market leader in virtual health with "durable" competitive advantages. The analyst estimates the U.S. total addressable market for general medical and behavioral health alone to be $8B per year, and says Teladoc is only ~5% penetrated.
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