Teladoc (TDOC) PT Raised to $110 at RBC Capital

RBC Capital analyst Sean Dodge raised the price target on Teladoc (NYSE: TDOC) to $110.00 (from $100.00) while maintaining an Outperform rating.

The analyst commented, "The InTouch acquisition strengthens our confidence in TDOC's ability to sustain 20-30% organic revenue growth longer, better balances its strategy (provider vs. payer/consumer) and further distances it from peers as the virtual health leader. The 4Q pre-announcement also points to a brighter International outlook. That said, we are moderating our EBITDA estimates to reflect a higher expected level of reinvestment."

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