Wells Fargo analyst Stephen Baxter raised the firm’s price target on Pennant Group (PNTG) to $38 from $31 and keeps an Overweight rating on the shares. For managed care organizations, the firm is most constructive on Medicare Advantage with uncertainty high for Medicaid/Exchanges. Wells sees a more difficult backdrop for hospitals in 2026 as post-COVID tailwinds wane and legislative risks near. Distributor debate remains revisions vs. multiples.
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