AVAH - Raising Estimates, Price Target And Some Takeaways From Upbeat Management Meetings

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AVAH - Raising Estimates, Price Target And Some Takeaways From Upbeat Management Meetings

Truist Securities

Equity Research Report May 20, 2026

HEALTHCARE: Home Health Aveanna Healthcare Holdings Inc. (AVAH)

AVAH - Raising Estimates, Price Target And Some Takeaways David S. MacDonald

617-646-5033 From Upbeat Management Meetings

David.Macdonald@truist.com

Clarke Murphy We are upping our estimates and raising our price target following better 1Q results, raised

617-646-5032 FY26 guidance and upbeat management meetings. Core PDS demand trends remain brisk,

Clarke.Murphy@truist.com we continue to see attractive benefits around care provided in the home and the company's

preferred payor strategy continues to yield results/aid margin expansion. Trends in HHH

Grayson McAlister remain solid and the preferred payer rollout in MS is making progress. We view the recent/

404-836-4742 pending Family First deal as a solid strategic fit, while continuing to view FCF generation

Grayson.McAlister@truist.com and ongoing deleveraging over time as key. Raising our 2026E – 2027E adjusted EBITDA

– maintain Hold, PT increased to $9 (vs. prior $8).

Stock Rating HOLD Raising Our Estimates And Price Target Post Better 1Q/Raised Guidance And Some

Unchanged Takeaways From Our Management Meetings. We are raising our estimates and price

target on the heels of 1Q results with strong core operational performance and upbeat

Price Target $9.00 management meetings we hosted yesterday focused on the company’s market leading

↑ positioning, progress on the rate/preferred payor front and strong core demand trends. We

from continue to view home-based care as the most cost-effective/patient preferred setting, would

$8.00 expect ongoing benefits from continued movement towards the home and think the company