Evolent Health (EVH) Receives a Rating Update from a Top Analyst


In a report released yesterday, Steven Halper from Cantor Fitzgerald reiterated a Buy rating on Evolent Health (EVH), with a price target of $37. The company’s shares closed yesterday at $22.86.

Halper said:

“. We reiterate our Overweight rating on EVH shares and maintain our 12-month PT of $37. After the close on Tuesday, Nov. 6, EVH reported 3Q18 results, with adjusted revenue above our estimate and FactSet consensus expectations. Management adjusted its 2018 guidance, raising the adjusted revenue range by $49 million to account for the New Century Health (NCH) acquisition. EVH remains confident in its pipeline, and it believes it is positioned favorably for a continued push in the federal-sponsored markets. We believe this will allay investors’ concerns regarding the company’s current and long-term growth strategy.”

According to TipRanks.com, Halper is a top 100 analyst with an average return of 20.4% and a 69.3% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Hms Holdings Corp, and Tivity Health Inc.

Currently, the analyst consensus on Evolent Health is a Strong Buy with an average price target of $32.50.

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The company has a one-year high of $29.05 and a one-year low of $10.30. Currently, Evolent Health has an average volume of 898K.

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Evolent Health, Inc. engages in the provision of health care delivery and payment services. Its solutions include population health management, health plan administration and third party administration, network performance management, risk adjustment, pharmacy benefit management, analytics and performance improvement, and technology and electronic medical record integration. The company was founded by Frank J. Williams, Seth B. Blackley, and Tom Peterson in August 2011 and is headquartered in Arlington, VA.

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