Cantor Fitzgerald Starts Teladoc (TDOC) at Overweight

Cantor Fitzgerald initiates coverage on Teladoc (NYSE: TDOC) with a Overweight rating and a price target of $25.00.

Analyst Steven Halper commented, "We initiate coverage of Teladoc Inc. with an Overweight rating and $25 PT in 12 months. The company is the leading provider of telehealth services to health plans and employers. Given the need to reduce costs and shift care away from high-cost settings, we believe that telehealth is poised to experience strong industry growth over the next several years. There are about 1.25 billion ambulatory visits each year, according to the CDC, and TDOC estimates that about one-third of these visits (over 400 million visits) can be treated with telehealth. Market penetration rates of telehealth is very low with less than 2 million visits expected this year, with Teladoc likely to report over 922,000 visits, by our calculation."

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 $16.50 yesterday.

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