Ardent Health price target lowered to $13 from $21 at Truist

Truist lowered the firm’s price target on Ardent Health (ARDT) to $13 from $21 and keeps a Buy rating on the shares. The company reported Q3 results where solid core volume and demand trends were overshadowed by an acceleration in Professional fees and payor denials, which weighed on the quarter and drove lowered FY25 guidance, the analyst tells investors in a research note. Truist adds however that solid financial flexibility should support ongoing capacity expansion and underpin growth investment and M&A for Ardent.