Talkspace initiated with an Outperform at Mizuho

Mizuho initiated coverage of Talkspace (TALK) with an Outperform rating and $5 price target The firm noted that Talkspace has become profitable in 2024, and believes the company is “on track to achieve its long-term guidance metrics through 2026 of +20-25% revenue CAGR and 12-15% EBITDA margins,” citing growing U.S. demand for mental health care. Mizuho also believes the company has “established a first-mover advantage against various competitors for several years into the future.”