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Fly News Breaks for February 27, 2020
TDOC
Feb 27, 2020 | 05:05 EDT
Piper Sandler analyst Sean Wieland raised the firm's price target on Teladoc Health to $142 from $87 and reiterates an Overweight rating on the shares. This quarter's beat and raise is "significant" because it signals Teladoc can simultaneously improve utilization and profitability, Wieland tells investors in a post-earnings research note. The analyst points out that the company's visit acquisition costs are falling while utilization is rising, which he believes supports his thesis that virtual care is "going mainstream."
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