Canaccord lowered the firm’s price target on Teladoc to $28 from $34 and keeps a Buy rating on the shares. The firm said with a 4Q revenue miss, disappointing 1Q guide, and annual revenue outlook below expectations, it is easy to be frustrated however reasons remain to own Teladoc as it continues to focus on improving efficiency and streamlining the business with a greater focus on improved profitability and free cash flow generation.
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