Teladoc (TDOC) PT Raised to $192 at Deutsche Bank; '50% increase in week-over-week visit volumes'

Deutsche Bank analyst George Hill raised the price target on Teladoc (NYSE: TDOC) to $192.00 (from $142.00) while maintaining a Buy rating.

The analyst commented, "TDOC Sees Volume Pickup:Recently, TDOC announced it experienced a 50% increase in week-over-week visit volumes the week of March 9th due to the coronavirus with total medical visits for the week reaching ~100k. We suspect the visit volume has continued to spike given the palpably rising level of concern throughout the US and the overloaded health systems in parts of the country and looking at data from Google analytics. In our view, Teladoc’s virtual solution fits the present moment well, as many people are concerned that they or a family member have the virus, but do not wish to leave their residence for fear of infecting others in their community."

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