Shares of Evolent Health Inc. (EVH) surged 5.46% on Friday, November 11th, following a positive analyst rating from Truist Financial. Truist analyst Jailendra Singh assigned a Buy rating on the healthcare services company and raised the price target to $24, citing strong growth prospects.
The bullish rating from Truist appears to be the primary catalyst behind Evolent Health's stock rally. In a research note, Singh highlighted the company's robust pipeline and potential for further market share gains in the rapidly expanding value-based care sector.
While Barclays cut its price target on Evolent Health to $19 from $39, the market seems to have placed greater weight on Truist's optimistic outlook. The stock closed at $32.85, up $1.70 from the previous day's close, as investors cheered the positive analyst commentary.
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