Piper Sandler lowered the firm’s price target on Evolent Health (EVH) to $16 from $17 and keeps an Overweight rating on the shares. The firm says the company reported Q4 results at the low end of revenue and adjusted EBITDA guidance, but better than feared in its view. Piper likes the 2025 outlook implying $150M of adjusted EBITDA at the midpoint, which it believes is appropriately calibrated given the oncology cost trend acceleration observed in Q4.
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