Teladoc (NYSE:TDOC) shares have vaulted 24.3% today to all-time highs after its Q4 earnings showed a beat on top and bottom lines, and strong guidance for 2020 even discounting the pending addition of Intouch Health.
The beat came right in the middle of rapid
developments around COVID-19 and the coronavirus spread, with CDC
officials saying some areas may need to increase use of remote
“telehealth” approaches if the virus takes hold inside the United
States.
Analysts have produced a bullish reaction, even as
they note the stock’s at lofty heights. Shares have more than doubled
over the past six months and are up 39.6% so far in 2020.
Among the bulls, Piper Sandler says the thesis
that “virtual care is going mainstream” is bearing out. The firm raised
its price target to $142 from $87 (shares are now at $143.15 with
today’s gain). and RBC praised the guidance, driven by new member adds,
cross-selling and increasing utilization.
Cantor Fitzgerald has a Neutral rating but also
sharply raised its price target (to $135), pointing to solid execution
and a company that’s “well positioned to sustain high growth rates for
the foreseeable future.”
https://seekingalpha.com/news/3546595-teladocplus-24-amid-solid-guidance-analyst-praise
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