Teladoc price target lowered to $18 from $22 at DA Davidson

DA Davidson analyst Gil Luria lowered the firm’s price target on Teladoc to $18 from $22 and keeps a Neutral rating on the shares. The company’s Q4 results missed expectations on several key metrics across both Integrated Care and BetterHelp, while its three-year outlook is suggestive of mid-single-digit annual revenue growth at best, the analyst tells investors in a research note. The firm adds however that Teladoc’s margin accretion has been solid and should continue as Teladoc implements what appears to be a strong cost-to-benefit proposition.