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EVH

Evolent Health

$10.70

0.73 (7.32%)

07:22
05/31/19
05/31
07:22
05/31/19
07:22

Evolent Health risk/reward attractive after selloff, says Cantor Fitzgerald

Cantor Fitzgerald analyst Steven Halper views the risk/reward on shares of Evolent Health as attractive following this week's selloff. The company's logic behind taking a majority stake in its largest customer, Passport Health, makes sense, Halper tells investors in a research note. He keeps an Overweight rating on the shares with an $18 price target.

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    Jun

EVH Evolent Health
$10.70

0.73 (7.32%)

05/31/19
PIPR
05/31/19
NO CHANGE
Target $17
PIPR
Overweight
'We don't like it, but we get it,' Piper says of Evolent customer investment
"We don't like it, but we get it," Piper Jaffray analyst Sean Wieland says of Evolent Health's $70M investment in its largest customer, Passport Health, to save the company from insolvency. The market's visceral reaction yesterday occurred because management had promised it would not buy another health plan and because the 2019 guidance was believed to be organic, Wieland tells investors in a research note. He believes Evolent was "damned if they did, damned if they didn't." Nonetheless, the analyst keeps an Overweight rating on the shares with a $17 price target due to valuation. He believes the rest of Evolent's business remains well positioned.
04/11/19
COWN
04/11/19
NO CHANGE
Target $26
COWN
Outperform
Passport Health 'optimism' removes near-term overhang for Evolent, says Cowen
Passport Health Plan is "cautiously optimistic" that it will be able to remain in business in Kentucky after receiving an estimated 4.7% rate increase in its regions, Cowen analyst Charles Rhyee tells investors in a research note. He says this should remove a near-term overhang for Evolent Health, giving him confidence in the company's revenue outlook. The analyst, who maintains an Outperform rating and $26 price target on Evolent, believes the mid-high end of revenue and adjusted EBITDA guidance is now more achievable.
04/11/19
CANT
04/11/19
NO CHANGE
Target $20
CANT
Overweight
Largest Evolent customer now 'much-less' likely to fail, says Cantor Fitzgerald
Multiple media sources yesterday indicated that Passport Health Plan was "cautiously optimistic" that the newly finalized Kentucky Medicaid rates will help provide a path for the plan's sustainability, Cantor Fitzgerald analyst Steven Halper tells investors in a research note. Passport is Evolent Health's largest customer. The news is an incremental positive for Evolent, as it is now "much-less likely that Passport will fail," says the analyst. He believes this should lift a "significant overhang" on Evolent Health shares. Halper reiterates an Overweight rating on the stock with a $20 price target.
04/11/19
ADAM
04/11/19
NO CHANGE
Target $19
ADAM
Buy
Passport news in KY removes overhang on Evolent's stock, says Canaccord
Canaccord analyst Richard Close maintained a Buy rating and $19 price target on Evolent Health after news outlets reported that Passport Health Plan said Medicaid rates in Kentucky were finalized this week, implying a blended positive rate increase of 4.7% for PHP. Close tells investors in a research note that the "positive" news removes a recent overhang on Evolent's stock and gives him greater confidence in the company's ability to achieve 2019 guidance. He would be an aggressive buyer of the stock.

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