Teladoc price target lowered to $18 from $23 at Evercore ISI

Evercore ISI lowered the firm’s price target on Teladoc to $18 from $23 and keeps an In Line rating on the shares. With Teladoc’s initial growth outlook for FY24-plus coming in below Street expectations, investors remain wary, particularly on BetterHelp membership, says the analyst, who remains on the sidelines until the firm sees further support for BetterHelp growth against a potentially worsening macro backdrop.