Talkspace initiated with a Buy at Canaccord

Canaccord analyst Richard Close initiated coverage of Talkspace (TALK) with a Buy rating and $5 price target Talkspace is a leading provider of digital behavioral healthcare services, the analyst tells investors in a research note. The firm sees a “massive revenue runway” within the company’s base of covered lives. Talkspace has demonstrated meaningful operating leverage over recent quarters, sustaining “strong” over 20% revenue growth through driving utilization of affordable, in-network care, contends Canaccord.