Teladoc Health Inc.'s stock surged 5.36% in pre-market trading on Friday, following Goldman Sachs' initiation of coverage with a Buy rating and a $14 price target. The investment bank cited the company's promising integrated care business as a key driver for its bullish stance.

Goldman analysts believe Teladoc's integrated care offerings, which combine virtual care delivery with expert medical services, should generate consistent revenue growth and margin expansion. The firm expects the telehealth provider to benefit from increasing demand for virtual care solutions and its ability to provide comprehensive healthcare services.

The positive rating from the influential Wall Street firm has boosted investor sentiment towards Teladoc, which has faced challenges in recent years amid intense competition and concerns over profitability. However, Goldman's initiation suggests that the company's strategic pivot towards integrated care could position it for long-term success in the rapidly evolving healthcare landscape.