Ardent Health downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley downgraded Ardent Health (ARDT) to Equal Weight from Overweight with a price target of $12, down from $22. The firm says the company’s second cut to its 2025 guidance highlights its disadvantages relative to larger peers that are demonstrating stronger execution and earnings power. Ardent shares have no clear near-term catalyst in the near-term as it could take a few quarters for the company to stabilize its operational performance, the analyst tells investors in a research note.