Evolent Health downgraded at Stephens amid surging cancer costs
The Fly

Evolent Health downgraded at Stephens amid surging cancer costs

As previously reported, Stephens analyst Jeff Garro downgraded Evolent Health (EVH) to Equal Weight from Overweight with a price target of $16, down from $38. Rising oncology costs are stressing Evolent’s profitability and exposing timing issues inherent to its at-risk Performance Suite business, the analyst tells investors in a research note. While the firm thinks these weaknesses can be remedied, improving contractual protections across the entire book will take time, the analyst added.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App