Bank of America Securities analyst Allen Lutz reiterated a Hold rating on Teladoc today and set a price target of $9.00.
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Allen Lutz’s rating is based on a combination of factors that reflect both strengths and challenges for Teladoc. The company has shown promising growth in its Chronic Care segment, particularly with Livongo’s monthly active users experiencing significant year-over-year increases. This growth offsets some of the weaknesses observed in the BetterHelp segment, where monthly active users have been declining.
Despite these mixed signals, Teladoc’s overall revenue and adjusted EBITDA for the third quarter are expected to align with market expectations. However, the recent announcement of the CFO’s departure adds an element of uncertainty to the company’s near-term outlook. Given these considerations, Allen Lutz maintains a Neutral rating, with a slight increase in the price objective, reflecting cautious optimism about Teladoc’s future performance amid current market conditions.
Lutz covers the Healthcare sector, focusing on stocks such as Hims & Hers Health, GoodRx Holdings, and CVS Health. According to TipRanks, Lutz has an average return of 7.3% and a 60.52% success rate on recommended stocks.
In another report released today, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $8.50 price target.