Evolent Health new Medicaid deals partially de-risk 2019, says Piper Jaffray. Piper Jaffray analyst Sean Wieland notes that Evolent Health announced two additional partnerships in Florida with providers who will take on Medicaid risk. This expands the company’s eligible Medicaid membership reach in Florida to 1.1M and should drive $35M-$45M in revenue next year, he contends. The analyst believes these wins de-risk next year, while also driving operating leverage. Additionally, Wieland argues that there is more upside than downside on the risk/reward profile of the new partnerships. The analyst reiterates an Overweight rating and $30 price target on the shares
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