Teladoc price target lowered to $18 from $26 at Wells Fargo

Wells Fargo lowered the firm’s price target on Teladoc to $18 from $26 and keeps an Equal Weight rating on the shares. The firm thinks the uncertainty surrounding the revenue/margin progression within BetterHelp is likely to remain a key area of debate and an overhang on the stock, despite better visibility and margin expansion under Integrated Care.