What happened Telemedicine leader Teladoc's (NYSE: TDOC) stock price was on the rise Tuesday, which was welcome news to shareholders after its recent slump. As of 12:30 p.m. ET, Teladoc was up by 6%. So what There are two likely explanations for the upward move. First, the market has largely been selling off high-growth tech stocks in recent weeks, and Teladoc was not an exception to that trend. This group, though, is broadly rallying on Tuesday. Image source: Getty Images. Second, and more specific to Teladoc, the company was the beneficiary of a somewhat favorable analyst note. Specifically, Sean Wieland of Piper Sandler kept his overweight rating on the healthcare stock and put a $118 price target on it. I say "somewhat favorable" because Wieland's previous price target for Teladoc was $183, but his new one is still 36% higher than the current price, even after Tuesday morning's move. Now what While this upward move is certainly a positive development for shareholders, it's important to take analyst actions like this with a big grain of salt. Nothing has changed about the underlying business as a result of it, and the fact remains that Teladoc is still more than 70% below the all-time high it set around a year ago. Investors will get more clarity about matters in a few weeks when Teladoc reports its latest quarterly results, and we'll see how actual company-specific news impacts the stock price. 10 stocks we like better than Teladoc HealthWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Teladoc Health wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of January 10, 2022 Matthew Frankel, CFP® has no position in any of the stocks mentioned. The Motley Fool owns and recommends Teladoc Health. The Motley Fool has a disclosure policy.Source