Evolent Health initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of Evolent Health with an Outperform rating and $45 price target. Evolent is a technology-enabled health company that provides value-based care management solutions that help improve costs and quality for customers, the analyst tells investors in a research note. The firm says Evolent is uniquely positioned due to its risk-based appetite in the specialty care market. It believes the company has “significant runway for growth” as it cross-sells new products and upsells risk-based products into existing clients.