Surgery Partners price target lowered to $30 from $35 at Benchmark

Benchmark lowered the firm’s price target on Surgery Partners (SGRY) to $30 from $35 and keeps a Buy rating on the shares after the company reported an in-line Q3, but also guided Q4 below consensus, resulting in FY25 AEBITDA guidance being reduced 4% at the midpoint. The firm thinks timing issues will begin to resolve by the time Surgery reports Q4 results, which it thinks should enable management to guide 2026 for double-digit AEBITDA growth and to point to incremental progress on portfolio optimization and deleveraging, the analyst tells investors.