Teladoc Hold Rating Reaffirmed as 2026 Outlook Tightens and $6 DCF-Based Price Target Remains Unchanged

TD Cowen analyst Charles Rhyee has maintained their neutral stance on TDOC stock, giving a Hold rating on April 30.

Charles Rhyee has given his Hold rating due to a combination of factors, including Teladoc’s updated 1Q26 results and management’s decision to tighten 2026 guidance for revenue and adjusted EBITDA margins across both Integrated Care and BetterHelp. He now projects 2026 and 2027 adjusted EBITDA of $279 million and $289 million, respectively, signaling only modest improvement over time.

Within these forecasts, Rhyee estimates that Integrated Care will contribute $251 million of adjusted EBITDA in 2026, while BetterHelp will add $28 million, assuming insured revenue of $96 million, which sits comfortably inside management’s $90 million to $105 million range. Reflecting a balanced risk‑reward profile, he keeps his discounted cash flow–based price target unchanged at $6, implying limited upside and supporting a neutral Hold stance on the shares.

In another report released on April 30, Evercore ISI also maintained a Hold rating on the stock with a $6.00 price target.