Evolent Health weakness a buying opportunity, says Canaccord

Canccord analyst Richard Close said the recent weakness in Evolent Health is a buying opportunity as the long-term outlook remains favorable. The analyst cited positive commentary by regulators on the need to transition from fee-for-service reimbursement to value-based care payment models. He also noted management commentary at the JP Morgan conference last week on headwinds the company will be encountering in 2019 and he lowered his estimates accordingly. Close reiterated his Buy rating and lowered his price target to $25 from $28 on Evolent Health shares.
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