Teladoc (TDOC) PT Raised to $39 at Cowen

Cowen analyst Charles Rhyee reiterated an Outperform rating on Teladoc (NYSE: TDOC) and lifted his price target to $39.00 (from $38.00) following solid Q3 results.

Rhyee commented, "TDOC posted a solid beat in 3Q, with revenue up 83% y/y and ahead of consensus and membership up 56% y/y to 12.6M members. Mgmt also raised full-year revenue guidance to $75.5-76.5M from $73-75M. While not giving 2016 guidance, mgmt noted it has had 99% client retention and said it has 85% visibility into 2016 consensus revenue of $117.6, which is the same % it had at this time last yr."

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 $19.59 yesterday.

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