Evolent Health initiated with bullish view at JMP Securities, here’s why

JMP Securities initiated coverage of Evolent Health with an Outperform rating and $37 price target. Evolent is a leader independent provider of value-based specialty care, partnering with health plans and providers to manage high-cost specialty conditions, the analyst tells investors in a research note. The firm is constructive on the company given its “under-penetrated” book of business and upsell opportunity, growing scale, diversified and integrated solutions portfolio, revenue visibility, profit trajectory, and large $150B addressable market.