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Watchlist Update: 12-2-2019 - TDOC - Teladoc - Analyst Comments

$TDOC - On our watchlist/trading list. Good longer-term healthcare growth play. Would use a pullback as a buying opp.

Teladoc downgraded to Hold from Buy at SunTrust.

SunTrust analyst Alexander Draper downgraded Teladoc to Hold from Buy with an unchanged $80 price target. The analyst notes that the stock is up 69% year-to-date and its enterprise value to sales multiple has reached a 9-turn premium to its 5-year historical average. Draper adds that while that valuation is in-line with the similarly growing software companies, he sees "limited opportunities" for continued multiple expansion and believes that the Street consensus is overestimating the revenue tailwinds of "recent wins and macro backdrop".

$TDOC, Teladoc Health, Inc. / H1

Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

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