Ardent Health initiated with an Overweight at KeyBanc

KeyBanc analyst Matthew Gillmor initiated coverage of Ardent Health with an Overweight rating and $24 price target as part of a broader research note launching coverage of Healthcare Services. The U.S. healthcare system requires significant efficiency gains and Healthcare Services will be at the epicenter of innovation, disruption, and opportunity, with near term proprietary hospital card data indicating that utilization remains strong in Q3 which represents a positive read for Hospitals and Post-Acute care, the analyst tells investors in a research note. For the company, the firm notes that Ardent is uniquely levered to the three mega trends driving growth in healthcare – public-private partnerships, IP-to-OP, and value based care – and KeyBanc sees a visible pathway to margin expansion.