Teladoc's Vital Signs: Why 5x FCF Means Stable Health (Rating Upgrade)

H i # P Investment Thesis Having been bearish on Teladoc stock for some time, I now no longer believe it makes sense to sustain this bearish outlook. Even as I recognize that Teladoc today operates as a shadow of its former self, I nevertheless contend that this insight has already been priced into its stock. At approximately 5x next year's free cash flow, there is a better risk-reward than there's been in quite some time. Therefore, I now change my mind and upgrade my rating from a sell to a neutral stance ...