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Fly News Breaks for August 7, 2019
EVH
Aug 7, 2019 | 06:58 EDT
Cantor Fitzgerald analyst Steven Halper lowered his price target for Evolent Health to $16 from $18 while reiterating an Overweight rating on the shares following the company's Q2 results. The target change is due to a "tempered outlook" for Q3, driven by delayed contract start dates and the realization that the company's cost reduction initiatives are taking longer than expected, Halper tells investors in a research note. However, management has a high degree of confidence Evolent can achieve mid-teens revenue growth in 2020, adds the analyst.
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