JPMorgan lowered the firm’s price target on Evolent Health (EVH) to $15 from $45 and keeps an Overweight rating on the shares. The firm says that with Evolent’s Q3 earnings report “opening the door for more questions around cost trends and visibility,” it lowering its model to take this risk into account. JPMorgan’s model assumes that cost trends drive a further 15% EBITDA reduction in 2025 off of the low end of the Q4 base.
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