Chardan Capital Markets Starts Teladoc (TDOC) at Buy; Sees 40% Upside
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Chardan Capital Markets initiates coverage on Teladoc (NYSE: TDOC) with a Buy rating and a price target of $24.00, saying they see strong demand for telehealth in 2017.
Analyst Steven Wardell commented, "Teladoc is the leading provider of telehealth services to employers, health plans, and healthcare providers. We expect strong growth for Teladoc over the next two years based on our recent channel checks. Teladoc is mispriced and undervalued compared to its peers due to market concerns about its business model and its currently-negative earnings. However, we have confidence in its business model and growth and expect earnings margins to rapidly improve over the next year, making now a good entry point for the name, given the potential for over 40% upside."
Shares of Teladoc closed at $16.95 yesterday.
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