Baird upgrades Teladoc to Outperform on valuation, UnitedHealth deal potential

 Baird analyst Matthew Gillmor upgraded Teladoc (TDOC) to Outperform from Neutral. The analyst believes it remains an attractive secular growth story as plan sponsors are reconfiguring benefit designs for “virtual first” healthcare. He also believes its valuation is looking more attractive and the Street estimates appear achievable. Gillmor also believes the company is working on a contract with UnitedHealth (UNH) to serve a large patient population within the latter, which would be a positive catalyst. Gillmor has an $80 price target on Teladoc shares.
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