Credit Suisse analyst Jonathan Yong made no change to the firm’s Neutral rating or $27 price target on shares of Teledoc Health (TDOC). On Tuesday, the company announced the expansion of Provider-Based care for weight management and prediabetes programs, building on the growing excitement for GLP-1/SGLT2 medications, which have been prescribed for off-label use in weight loss, the analyst tells investors in a research note. Teledoc’s expansion into providing a clinically appropriate plan would provide a strong avenue to capitalize on the growth in GLP-1s, which may benefit the company’s Livongo (LVGO)/chronic care management platform, the firm says.
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