UPDATE: Jefferies Assumes Teladoc (TDOC) at Hold

Jefferies analyst Glen Santangelo assumes coverage on Teladoc (NYSE: TDOC) with a Hold rating and a price target of $113.00.

The analyst comments "We are assuming coverage of TDOC with a Hold rating and a $113 price target. While we believe TDOC is well positioned, we believe the revenue deceleration and investment spending's impact on margin in F22 will limit multiple expansion. With respect to outlook for revenue growth, we are cautiously optimistic on the outlook for Primary360, and given the rapid evolution of the competitive landscape, we believe investors will take a wait and see approach."

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 $101.25 yesterday.

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