Canaccord reiterates Buy on Talkspace after management meetings

Canaccord reiterates a Buy rating on Talkspace (TALK) with a $6 price target after hosting investor meetings with management. The meetings reinforced that Talkspace expanding its payor relationships was the right decision to build a scaled and profitable business, the analyst tells investors in a research note. The firm is “encouraged” that the company’s payor relationships are strengthening and the rate environment remains favorable. It says management expressed confidence in achieving its three-year targeted outlook of 20-25% sales growth and 12%-15% adjusted EBITDA margin.