A number of catalysts could drive gains for Teladoc Health in the coming months, according to Goldman Sachs.
Analyst David Roman initiated coverage on the name with a buy rating, and his price target of $14 implies 56.3% upside from Thursday's close. "We believe EBITDA estimates need to move slightly lower for 2025 and guidance, which we expect early in 2025 or on the 4Q earnings call will likely drive numbers lower to a point where investors can have improved confidence relative to expectations," the analyst said in a Thursday note.
mountain TDOC, year-to-date His bullish call joins the few analysts on Wall Street with a similar stance. Among the 27 analysts covering it, only six in total have a strong buy or buy rating. The remaining 21 analysts all have a hold rating. That said, the Street still sees some gains ahead. In fact, its average target of $10.45 reflects more than 16% upside, as of Thursday's close. Shares were up more than 1% in the premarket following Roman's call.
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