Teladoc price target raised, added to ‘Tactical Underperform’ list at Evercore

Evercore ISI raised the firm’s price target on Teladoc to $9 from $8 and keeps an In Line rating on the shares. The firm is adjusting estimates and making additions to Evercore’s “Tactical Outperform” and “Tactical Underperform” lists ahead of Q3 earnings from the Healthcare Technology and Distribution group. Evercore added Teladoc to the “Tactical Underperform” list as the analyst contends that as a DTC marketer, pressures to ad pricing heading into the election may further deteriorate the performance and unit economics of BetterHelp.