Teladoc gains as Jefferies raises PT

Teladoc Health

17/09/2024 16:05

** Shares of virtual healthcare provider Teladoc  TDOC.N 
rise 9.87% to $8.97
    ** Brokerage Jefferies raises PT to $10 from $8, sees
short-term opportunity in shares
    ** Says web traffic at its mental health services segment
known as BetterHelp returned to growth in July/Aug after 12
consecutive months of y/y decline
    ** Adds data has historically been a good directional
indicator for the business, which suggests trends are likely to
improve in Q3, but is cautious against using it as an absolute
indication of revenue
    ** TDOC withdrew its 2024 forecast due to surging costs and
declining revenue at BetterHelp
    ** Stock down ~58% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))