Ardent Health Partners, Inc. (ARDT – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on June 23. Analyst Whit Mayo from Leerink Partners reiterated a Buy rating on the stock and has a $24.00 price target.
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Whit Mayo has given his Buy rating due to a combination of factors including the strong sector trends and the belief that Ardent Health Partners, Inc. is currently underperforming its potential, particularly with its outpatient network strategy. The company’s valuation appears deeply discounted at 5.2 times the projected 2025 EBITDAR-NCI, which suggests significant upside potential.
Despite a delay in the anticipated $65 million contribution from the NM DPP to the third quarter of 2025, the full-year EBITDA forecast remains unaffected. The delay is attributed to uncertainty in the timing of CMS approval, not a lack of confidence in eventual approval. Mayo maintains his 2025-26 EBITDA and EBITDAR-NCI estimates, as well as the price target of $24, reflecting a forward EV/EBITDAR-NCI multiple of 7.0 times, which accounts for the operational lease costs impacting the income statement.
In another report released on June 20, KeyBanc also maintained a Buy rating on the stock with a $24.00 price target.
ARDT’s price has also changed moderately for the past six months – from $15.900 to $12.940, which is a -18.62% drop .