U.S. markets open in 6 hours 14 minutes
  • S&P Futures

    3,811.50
    -27.50 (-0.72%)
     
  • Dow Futures

    31,390.00
    -75.00 (-0.24%)
     
  • Nasdaq Futures

    12,432.00
    -231.75 (-1.83%)
     
  • Russell 2000 Futures

    2,174.50
    -15.20 (-0.69%)
     
  • Crude Oil

    66.86
    +0.77 (+1.17%)
     
  • Gold

    1,696.30
    -2.20 (-0.13%)
     
  • Silver

    25.44
    +0.16 (+0.62%)
     
  • EUR/USD

    1.1895
    -0.0030 (-0.25%)
     
  • 10-Yr Bond

    1.5540
    0.0000 (0.00%)
     
  • Vix

    24.66
    -3.91 (-13.69%)
     
  • GBP/USD

    1.3839
    +0.0011 (+0.08%)
     
  • USD/JPY

    108.4060
    +0.0240 (+0.02%)
     
  • BTC-USD

    49,749.52
    +309.44 (+0.63%)
     
  • CMC Crypto 200

    1,004.94
    +61.77 (+6.55%)
     
  • FTSE 100

    6,681.45
    +50.93 (+0.77%)
     
  • Nikkei 225

    28,743.25
    -121.07 (-0.42%)
     

Teladoc Health A 'Large Player In A Fast-Growing Market': Evercore ISI

  • Oops!
    Something went wrong.
    Please try again later.
Priya Nigam
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.

Teladoc Health Inc (NYSE: TDOC) benefits from a first-mover advantage in telehealth and has been a beneficiary of the shift to virtual care during COVID-19, according to Evercore ISI.

The Teladoc Health Analyst: Elizabeth Anderson initiated coverage of Teladoc Health with an In-Line rating and $215 price target.

The Teladoc Health Thesis: The company has a wide range of offerings for remote care, including general medicine, mental health and expert opinions, with a total addressable market of around $70 billion, Anderson said in the Tuesday initiation note.

“The recently closed Livongo transaction adds additional digital scalpels to TDOC’s surgical kit, particularly in chronic diseases such as diabetes and hypertension,” the analyst said.

These segments add $50 billion to the company’s total addressable market, she said. 

“Given the continued high interest in these areas as ways to limit healthcare costs as well as the limited customer overlap between legacy TDCO and LVGO, we see $500+ MM of revenue synergy targets as attainable by 2025.”   

Evercore expects Teladoc Health to generate more than 30% organic growth over the next few years, “with improving profitability as the company scales and achieves ~$60 MM in cost synergies.”

TDOC Price Action: Shares of Teladoc Health were up 2.79% at $205.33 at last check Tuesday.

Latest Ratings for TDOC

Dec 2020

Evercore ISI Group

Initiates Coverage On

In-Line

Dec 2020

Stephens & Co.

Downgrades

Overweight

Equal-Weight

Dec 2020

Goldman Sachs

Initiates Coverage On

Neutral

View More Analyst Ratings for TDOC
View the Latest Analyst Ratings

See more from Benzinga

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.