Evolent Health price target raised to $13 from $12 at Citizens JMP

Citizens JMP raised the firm’s price target on Evolent Health (EVH) to $13 from $12 and keeps an Outperform rating on the shares. Evolent’s Q4 revenue trailed consensus, while adjusted EBITDA was also below consensus, largely the result of elevated oncology costs, the analyst tells investors in a research note. While 2024 was a challenging year for Evolent, the firm believes management has taken the appropriate steps to insulate its business from factors outside its control, and profit generation should prove more predictable and durable than it was entering 2024.