Evolent Health (EVH) PT Raised to $13 at Citizens JMP

Citizens JMP analyst Constantine Davides raised the price target on Evolent Health (NYSE: EVH) to $13.00 (from $12.00) while maintaining a Market Outperform rating.

The analyst commented, “EVH has recently traded at 12x our 2025 adjusted EBITDA estimate. Over the past two years, EVH has traded between 9x and 20x NTM EBITDA, at an average of 14x. While we recognize that 2024 was a challenging year for EVH, we believe 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, in our view.”

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