UBS analyst Kevin Caliendo lowered the firm’s price target on Teladoc to $16 from $20 and keeps a Neutral rating on the shares. A fairly uneventful first quarter result suggests the current business backdrop has not changed materially for the company, as overall business trends appear to be neither improving nor worsening, the analyst tells investors in a research note. Shares are likely to remain range bound until the permanent CEO position is filled and strategic decisions around assets and investment take shape, UBS says.
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