Apollo Medical initiated with a Buy at Lake Street

Lake Street analyst Brooks O’Neil initiated coverage of Apollo Medical with a Buy rating and $40 price target. The physician-centric healthcare management company based in California "has been supporting providers in the delivery of high-quality, cost-effective, culturally competent care for three decades," O’Neil tells investors. He sees ApolloMed having "a huge opportunity" to partner with physicians and payors to accelerate the move to value-based care occurring in many markets across America and thinks the company’s roots in California managed care "provides a base of knowledge and experience the company can leverage as it moves into new markets," O’Neil said.