Mizuho Starts Teladoc (TDOC) at Neutral

Mizuho analyst Steven Valiquette initiates coverage on Teladoc (NYSE: TDOC) with a Neutral rating and a price target of $10.00.

The analyst comments: "We are initiating coverage of TDOC with a Neutral rating and a $10 PT based on a projected 6x EBITDA multiple on our 2026 forecast. We are encouraged by TDOC's continued steady growth in its Integrated Care segment, including both core B2B virtual health services and chronic care management. We also believe the recent UpLift acquisition sets TDOC up for potential stabilization in its overall virtual behavioral health franchise longer-term. However, in the near-term, we remain concerned about the potential pace of BetterHelp attrition, particularly as customer acquisition costs remain elevated, and consumer sentiment remains well below historical averages in 2025. All told, our EBITDA estimates for 2025-'28 are slightly above Street consensus in all periods, but we still believe investors are likely to assign a below-industry-average EV/EBITDA valuation for TDOC until there are some signs of BetterHelp stabilization."

For an analyst ratings summary and ratings history on Teladoc click here. For more ratings news on Teladoc click here.

Shares of Teladoc closed at $8.20 yesterday.

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