BTIG lowered the firm’s price target on Evolent Health (EVH) to $20 from $29 but keeps a Buy rating on the shares. The firm notes it was disappointed by the company’s comments around higher medical trend and their ability to capture a net EBITDA benefit of $60M in 2025 after accounting for about $100M-$105M in EBITDA benefit from higher rates and some conversion to Tech Enabled Services for some clients, adding however that while it is reducing its FY25 EBITDA view to $165M, the stock’s “significant” pullback prices in the “worst case” scenario, the analyst tells investors in a research note.
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Read More on EVH:
- Evolent Health price target lowered to $12 from $16 at Stephens
- Evolent Health price target lowered to $14 from $27 at UBS
- Evolent Health reiterates long-term outlook, says FY25 guide coming February 20
- Evolent dips after Truist warns guidance may be ‘significantly’ below consensus
- Evolent Health price target lowered to $17 from $20 at RBC Capital