Information Provided By:
Fly News Breaks for November 6, 2019
EVH
Nov 6, 2019 | 05:10 EDT
Piper Jaffray analyst Sean Wieland raised his price target for Evolent Health to $12 from $10 saying the stock is a buy with or without the Passport award. If Passport renews Kentucky Medicaid, Evolent's revenue should grow 20% in 2020, and if they don't, its revenue should grow 10%, Wieland tells investors in a research note. "Strong momentum" in the rest of the business, including a notable win at a large Medicaid plan in Maryland, "will likely carry the day," says the analyst, who reiterates an Overweight rating on Evolent Health.