How does the new CP update affect evolving

I have been grafting out my magikarp for a good long while now, very little magikarp spawn near me sadly so it's been a daily grind having him as my follower, and he was a nice 176 cp but now the cp changes have come in and he is 146, will this lower cp affect the level he evolves to a gyarados to? As I heard gyarados got a boost, would this even out possibly