BofA raised the firm’s price target on Teladoc (TDOC) to $11.50 from $10.50 and keeps a Neutral rating on the shares after the company announced the acquisition of Catapult Health, a provider of virtual preventive care services. While the acquisition is small, it can help Teladoc maintain and grow its relationships with its current customers, says the firm, which slightly increased it multiple to reflect this view.
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Read More on TDOC:
- M&A News: Teladoc Health (NASDAQ:TDOC) To Buy Catapult Health
- Teladoc call volume above normal and directionally bullish
- Teladoc Health to acquire Catapult Health in all-cash transaction for $65M
- Teladoc price target raised to $12 from $11 at RBC Capital
- Teladoc price target lowered to $10.50 from $11.50 at BofA