Tenet Healthcare Given “Buy” Rating at Deutsche Bank (THC)
“We continue to believe an upside risk to THC’s valuation is its Conifer segment, which is growing at a faster pace than the overall enterprise and could begin to differentiate THC’s multiple once Conifer’s stand-alone (non-THC) EBITDA is convincing enough to the market. Finally, we note that our valuation framework does not include THC’s NOL, which provides an additional $3-4 of cushion to the valuation. Key risks include: Medicare/Medicaid cuts, implementation risks of PPACA, HCIT conversions, M&A integration, state exposures in Texas, Florida and California.,” the firm’s analyst commented.
A number of other analysts have also recently weighed in on THC. Analysts at CRT Capital upgraded shares of Tenet Healthcare from a fair value rating to a buy rating in a research note to investors on Friday. They now have a $51.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Tenet Healthcare from $20.00 to $38.00 in a research note to investors on Thursday, March 7th. They now have a sector perform rating on the stock. Finally, analysts at Jefferies Group reiterated a buy rating on shares of Tenet Healthcare in a research note to investors on Monday, March 4th. They now have a $48.00 price target on the stock, up previously from $26.00.
Tenet Healthcare traded up 1.02% on Friday, hitting $43.64. Tenet Healthcare has a 1-year low of $17.24 and a 1-year high of $43.79. The stock’s 50-day moving average is currently $39.42. The company has a market cap of $4.551 billion and a price-to-earnings ratio of 33.33.
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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