RBC Capital analyst Ben Hendrix lowered the firm’s price target on Ardent Health (ARDT) to $16 from $21 and keeps an Outperform rating on the shares after its Q3 results. Shares declined after elevated professional fees and payer denial activity caused the company to lower its 2025 adjusted EBITDA guidance, with management expecting headwinds to continue in 2026, the analyst tells investors in a research note. The persistency of the headwinds is discouraging, though the firm was pleased to see the company launch an expanded set of margin enhancement initiatives, the firm added.
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