Teladoc price target raised to $10 from $9 at RBC Capital

RBC Capital raised the firm’s price target on Teladoc to $10 from $9 and keeps an Outperform rating on the shares ahead of its Q3 results. Investors are expected to focus on BetterHelp – BH – revenue and trends as well as any updates on the strategic pivots that may be announced under the new CEO, the analyst tells investors in a research note. RBC adds that BH users have declined sequentially for four straight quarters now, and its own analysis of BH app utilization shows usage continued to decline in Q3, though at a decelerating rate.