Leerink Partners Cuts Price Target on Evolent Health (EVH) to $24; Reiterates Outperform
- Wall Street rises, buoyed by economic data; Dow sets high
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- After-Hours Stock Movers 12/05: (TXMD) (COUP) (BOBE) Higher; (SB) (LXRX) (STWD) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Leerink Partners maintained an Outperform rating on Evolent Health (NYSE: EVH), and cut the price target to $24.00 (from $28.00), heading into 2017. Demand for the Identifi solution and other valueadded services appears strong. EVH recently added Banner Health and Hill Physicians Medical Group. EVH now has 13 revenue producing partners as of the end of 3Q:16, and 3 more are being added which do not have revenue.
Analyst David Larsen commented, "We continue to be positive on EVH heading into 2017, and we are updating our model to account for the Valence transaction. Management has consistently delivered on promises, including five new partner relationships in 2016, steady organic growth in lives-on-platform from existing customers, a high degree of recurring revenue and steady improvement in EBITDA. We maintain our OP rating on shares of EVH; however, the next ~2 quarters will be significant as we'll see the full impact of the Valence & Aldera transactions, new lives coming onto the platform, and the impact of the Republicans gaining power in Washington. PT to $24 (from $28)."
Shares of Evolent Health closed at $18.95 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Goldman Sachs Downgrades Marvell (MRVL) to Sell
- Jefferies Raises Price Target on Parker-Hannifin (PH) Ahead of Acquisition Close
- Brean Capital Cuts Price Target on G-III Apparel Group (GIII) Following 3Q Miss
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!