Apollo Medical initiated with a Buy at Jefferies

Jefferies initiated coverage of Apollo Medical with a Buy rating and $50 price target. The firm says Apollo is an “under-followed company” with a long history of execution in value-based care that has made recent strides to modernize the business. The company has a favorable mix that should stabilize results relative to peers in the near-term and its 20% EBITDA growth outlook to fiscal 2025 is compelling, the analyst tells investors in a research note.