RBC Capital raised the firm’s price target on Teladoc (TDOC) to $12 from $11 and keeps an Outperform rating on the shares ahead of its Q4 results. The company’s BetterHelp revenue and trends remain in focus as its user count has declined sequentially over the past five quarters, but the firm’s analysis of app utilization suggests that a positive reversal in this trend may have occurred, the analyst tells investors in a research note. RBC adds that in its recent management meeting, Teladoc said it was seeing improving momentum on the international side of the BetterHelp business and was continuing to accelerate its investments there.
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