The world’s first and largest telehealth platform company, Teladoc Inc TDOC, was introduced to the New York Stock Exchange on June 30. The proprietary company released 8.3 million shares at the price of $19 per share, above the expected range of $15-$17.
Shares skyrocketed on its IPO, moving from $19 to opening at $29.95, well over a 50 percent hike. On Monday, Wall Street analysts initiated coverage on the stock:
JP Morgan: Initiated coverage on TDOC with an Overweight rating and a price target of $38.
Deutsche Bank: Buy; PT of $38.
SunTrust Bank: Buy; PT of $37.
William Blair: Outperform.
SUMMARY: 2 Buy, 1 Overweight, and 1 Outperform rating; Price target range $37-$38.
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