A number of firms have modified their ratings and price targets on shares of Tenet Healthcare (NYSE: THC) recently:
- Tenet Healthcare had its price target raised by analysts at Barclays Capital from $36.00 to $41.00. They now have an “equal weight” rating on the stock.
- Tenet Healthcare had its price target raised by analysts at Mizuho from $40.00 to $41.00. They now have a “buy” rating on the stock.
- Tenet Healthcare had its price target raised by analysts at Credit Suisse from $31.00 to $44.00.
- Tenet Healthcare had its “market perform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $40.00 price target on the stock, up previously from $38.00. They wrote, “Producing EBITDA growth and modest volume increases, Tenet continues to execute well enough to please the Street. Fourth quarter results included better-than-expected top line growth and continued focus on expense reduction (although expenses came in higher than our model). FY2013 EBITDA guidance remains unchanged. However, changes to expectations around D&A and share count pulled down the expected EPS range. Investor focus remains fixed on exchanges and the 2014 landscape. Tenet provided some early insight into pricing today by highlighting the inclusion of discounted commercial rates within three Blues contracts that will be applied to exchange plans. If the hospital industry can command these rates across the new distribution channel, it will likely aid EBITDA margins. It could also contribute to higher plan price points on the exchange.”
- Tenet Healthcare was upgraded by analysts at TheStreet from a “sell” rating to a “hold” rating. They wrote, “Tenet Healthcare (THC) has been upgraded by TheStreet Ratings from sell to hold. The company’s strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and poor profit margins.”
- Tenet Healthcare had its “overweight” rating reaffirmed by analysts at JPMorgan Chase. They now have a $41.00 price target on the stock.
- Tenet Healthcare had its “buy” rating reaffirmed by analysts at Jefferies Group. They now have a $48.00 price target on the stock, up previously from $26.00. They wrote, “We remain bullish on THC given our belief that the company is on track to realize the projected benefits of ‘healthcare reform’ for hospital providers once the law is implemented beginning in 2014. Given our belief that the ‘reform trade’ will buoy hospital stocks throughout 2013, particularly as they progress in contracting with ‘exchange plans’, we expect THC shares to sustain their recent upward momentum.”
Shares of Tenet Healthcare Co. opened at 39.15 on Wednesday. Tenet Healthcare Co. has a 52 week low of $17.24 and a 52 week high of $40.94. The stock’s 50-day moving average is currently $38.77. The company has a market cap of $4.148 billion and a P/E ratio of 40.16.
Tenet Healthcare Corporation, and its subsidiaries (Tenet) is an investor-owned health care services company whose subsidiaries and affiliates own and operate acute care hospitals, ambulatory surgery centers, diagnostic imaging centers and related health care facilities.
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