Citi cuts Teladoc target, opens ‘upside 30-day short-term view’

Citi lowered the firm’s price target on Teladoc (TDOC) to $8.75 from $11 and keeps a Neutral rating on the shares. The firm also added an “upside 30-day short-term view” on the shares. It is likely that BetterHelp beats on sales this quarter, the analyst tells investors in a research note. Citi does not expect any change to Teladoc’s guidance and, given consumer spending concerns, it thinks management will strike a cautious tone. However, given bearish sentiment, “this should be good enough” for a positive stock price reaction, contends the firm.