Cowen Starts Teladoc (TDOC) at Outperform

Cowen initiates coverage on recent IPO Teladoc (NYSE: TDOC) with a Outperform rating and a price target of $39.00.

Analyst Charles Rhyee commented, "We are initiating coverage of TDOC with an Outperform rating and $39 PT. TDOC has established a first-mover advantage in this nascent and fast-growing market. With a current TAM of $18-$19B that could expand to $41B, we see TDOC well-positioned to gain share as the overall telehealth market is ready to break into the mainstream."

For an analyst ratings summary and ratings history on Teladoc click here. For more ratings news on Teladoc click here.

Shares of Teladoc closed at $26.66 yesterday.

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