Teladoc down 6% premarket on Amazon threat

Teladoc (NYSE:TDOC) is down 6% premarket on light volume in apparent response to Amazon’s launch of a pilot program of a new health app that features telemedicine and similar features for its Seattle-based employees, although a potential commercial launch appears some distance away.

Leerink’s Daniel Grosslight shrugs off the potential threat on the belief that Amazon will partner with telehealth vendors (like TDOC) instead of running a provider network itself. He rates the stock Outperform with a $90 price target.

SA Authors rate TDOC Neutral while the Quant rating is Bullish.

https://seekingalpha.com/news/3501702-teladoc-6-percent-premarket-amazon-threat