KeyBanc initiated coverage of Evolent Health with an Overweight rating and $35 price target The firm is bullish on Evolent’s strategy and long-term growth, noting that while the stock has pulled back in recent weeks, it believes the valuation is attractive. The analyst added that the price target assumes an 11x multiple on the firm’s 2026 EBITDA estimates, relative to Evolent’s average range of 10-25x.
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