Morgan Stanley trims Ardent Health price target, says pullback an ‘overreaction’

Morgan Stanley lowered the firm’s price target on Ardent Health (ARDT) to $22 from $23.50 and keeps an Overweight rating on the shares after Ardent shared headwinds and tailwinds heading into 2025 at an investor conference last week. The stock declined 11% last week, overshooting the 4% negative revision to EBITDA, notes the analyst, who thinks management is “taking a conservative approach” and views the share price response to the preliminary 2025 outlook as an “overreaction.”