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Teladoc stock rises on its 'buy' rating from D.A. Davidson

Teladoc shares are trading higher after D.A. Davidson initiated coverage of the virtual health care company and $45 price target.

Video Transcript

AKIKO FUJITA: Shares of Teladoc are trading higher. It is up nearly 6% here after DA Davidson initiated coverage of the virtual health care services company, giving it a buy rating and a $45 price target. DA Davidson saying Teladoc shares offer value after having been beaten up over the last year. They also cite growing acceptance and comfort with telehealth.

And of course, all this good news for Cathie Wood's Ark investments, which is the largest institutional holder of Teladoc stock. We're talking $45, so a bit of a premium on where it's trading today, Rachelle.