Cannacord Genuity optimistic about Teladoc, Accolade ahead of qtrly results

Accolade

22/04/2022 11:46

** Cannacord Genuity sees digital and tech-enabled
healthcare companies Teladoc  TDOC.N  and Accolade  ACCD.O  as
relatively derisked heading into quarterly reports, despite a
challenging year
    ** Teladoc will report Q1 results on April 27, while
Accolade will report Q4 results on April 28
    ** Brokerage says despite disappointing YTD share
performance, the payer/employer purchasing environment remains
steady
    ** Says TDOC's momentum in mental health will likely prove
favourable for qtr and expects ACCD to benefit from virtual
visit exposure during Omicron and employer demand to drive
employee health
    ** Brokerage expects companies to report relatively in-line
results and reaffirm annual targets, but believes this should be
viewed 'favourably' given overall negative sentiment and YTD
share performance
    ** TDOC down ~36% YTD, while ACCD has lost ~54%

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))