Why Teladoc Stock Popped by Nearly 12% on Tuesday

Absent of any other stock-moving news, a 25% increase in an analyst's price target for Teladoc (NYSE: TDOC) got the stock moving northward on Tuesday. It ended up closing the day almost 12% higher on the move, for a much better performance than the essentially flat trajectory of the bellwether S&P 500 index.News of the increase hit the headlines shortly before the market open. Jefferies prognosticator Glen Santangelo now feels Teladoc is worth $10 per share, up from his previous estimation of $8. In making the change, Santangelo maintained his buy recommendation, as the new target is nearly 10% higher than the stock's latest closing price. In the research note detailing the modification, the analyst waxed bullish about a dramatic change in the performance of Teladoc's BetterHelp brand. He wrote that its web traffic for the BetterHelp site saw year-over-year growth in July and August, following 12 months of declining numbers.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool