Teladoc price target lowered to $17 from $23 at Truist

Truist lowered the firm’s price target on Teladoc to $17 from $23 and keeps a Hold rating on the shares. The firm is updating its model after the company’s 10-K disclosures, noting that for BetterHelp, its estimates for the expected amount of refunds – recorded as a reduction of revenue – was about $93M for FY23, up from $79.2M in FY22, the analyst tells investors in a research note.