Teladoc stock surges after Jefferies raises price target

Teladoc Health (TDOC) has jumped in Tuesday trading after an analyst team at Jefferies raised their price target from $8 to $10 per share. Josh Lipton and Josh Schafer cite the analyst note which points to Teladoc's ability to grow BetterHelp's web traffic flows.

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This post was written by Luke Carberry Mogan.

Transcripción del vídeo

Now let's get to some calls of the day sponsored by Tasty trade.

Jeffrey is raising its price target on Teladoc Health from $8 to $10.

The note highlighting the growth of better help web traffic.

So Josh better help web traffic picking up for the first time after 12 consecutive months of declines.

That was in the month of July and August.

And it seems like overall Jeffrey sort of pointing out here, they see a near term catalyst for trade stocks already up 12% and their price targets 10.

They weren't necessarily saying that they feel like this is a long term buy right now.

Just wait, wait and see what happens a little bit.

Yeah, they, they put this is a short term opportunity in shares.

They call it a very negative sentiment, 16% short interest.

But to your point, Josh, they then do hammer home that point long term.

Uh They say concerns may make it hard to sustain momentum.

So they do, they do stay on the sidelines.

They do maintain that hold.

Yeah.

And they point out that integrated care segment is going to be a key revenue sector to watch if you're looking to get into this name.

Long term again though, you zoom out on Teladoc over the last year, stocks down over about 50%.

It has not been a very love name in this market and it seems like Jeffries isn't necessarily calling bottom on that quite.

Yeah, for sure.