KeyBanc lowered the firm’s price target on Ardent Health (ARDT) to $20 from $24 on our lower FY26 estimates, upside potential from Ardent’s JV growth strategy, and valuation. The firm keeps an Overweight rating on the shares. KeyBanc notes Q2 results were modestly ahead of expectations on an underlying basis, highlighted by a 1%-2% EBITDA beat that was supported by a continuation of very strong SS growth for IP services.
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