Pennant Group price target raised to $34 from $33 at RBC Capital

RBC Capital raised the firm’s price target on Pennant Group (PNTG) to $34 from $33 and keeps an Outperform rating on the shares. The company’s Q2 adjusted EBITDA was in line with expectations, driven by broad-based topline strength and solid cost controls, though the firm is increasing its price target to reflect the target enterprise multiple of 11.6-times its expected 2026 adjusted EBITDAR estimate, the analyst tells investors in a research note.