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Evolent Health new Medicaid deals partially de-risk 2019, says Piper Jaffray. Piper Jaffray analyst Sean Wieland notes that Evolent Health announced two additional partnerships in Florida with providers who will take on Medicaid risk. This expands the company's eligible Medicaid membership reach in Florida to 1.1M and should drive $35M-$45M in revenue next year, he contends. The analyst believes these wins de-risk next year, while also driving operating leverage. Additionally, Wieland argues that there is more upside than downside on the risk/reward profile of the new partnerships. The analyst reiterates an Overweight rating and $30 price target on the shares.

Evolent Health price target raised to $30 from $20 at SunTrust. SunTrust analyst Sandy Draper raised his price target for Evolent Health to $30 and reiterated a Buy rating on the shares after the company announced three Florida Medicaid deal wins, bringing the total to four partnerships that will serve five Florida Medicaid regions. In a research note to investors, Draper said he is not changing his estimates after the deals, but they do provide incremental visibility into 2019 estimates, and thinks the size and scope of the deals further illustrates the market need for Evolent's provider-sponsored health plan services and improving pipeline conditions.

Evolent Health positioned for strong 2019 growth, says Cantor Fitzgerald. Evolent Health has now announced eight new partnerships this year and is well positioned to post strong growth in 2019, Cantor Fitzgerald analyst Steven Halper tells investors in a research note. He believes Evolent continues to demonstrate solid execution as it continues to add new partnerships. The analyst keeps an Overweight rating on the shares with a $28 price target.