Teladoc price target lowered to $10 from $25 at Piper Sandler

Piper Sandler analyst Jessica Tassan lowered the firm’s price target on Teladoc to $10 from $25 and keeps an Overweight rating on the shares after the company reported mixed Q2 results, where Integrated Care segment execution was eclipsed by the collapse of BetterHelp. The firm believes Teladoc leadership is correctly focused on insurance covered products to drive durable profitable growth, and it continues to see value in the enterprise platform and installed base, discreet from DTC. With BetterHelp’s guide suspended and its future uncertain, Piper revises its price target methodology.