Canaccord lowered the firm’s price target on Evolent Health (EVH) to $23 from $36 and keeps a Buy rating on the shares. The firm said the concerns of Evolent’s exposure to higher medical costs came to fruition in 3Q, leading to a significant adj-EBITDA miss and full-year guide down with the expectation of continued pressure in 4Q.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EVH:
- Evolent Health downgraded at Stephens amid surging cancer costs
- Evolent Health downgraded to Equal Weight from Overweight at Stephens
- Evolent Health Reports Revenue Growth Amid Challenges
- Closing Bell Movers: Toast gains 19% afterhours after earnings beat
- Evolent Health sees FY24 revenue $2.55B-$2.575B, consensus $2.58B