RBC Capital lowered the firm’s price target on Acadia Healthcare to $94 from $99 but keeps an Outperform rating on the shares after its Q3 earnings. The company reported solid results driven by impressive topline growth, and its volumes continue to be strong with Acadia seeing minimal impact from Medicaid redeterminations, the analyst tells investors in a research note. RBC contends that strong rate growth is expected to continue for the company through the first quarter of 2024 before moderating back to normal levels.
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