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Fly News Breaks for November 3, 2015
THC
Nov 3, 2015 | 07:34 EDT
UBS said Tenet reported good Q3 results, but they could have been great if not for a water pipe break at one of the company's largest hospitals, which put key services on diversion for two months. The firm said company volumes were soft but pricing was strong and thinks management sees its stock as attractive at current levels. UBS reiterated its Buy rating and $62 price target on Tenet shares.
News For THC From the Last 2 Days
THC
Mar 27, 2024 | 04:50 EDT
Wolfe Research upgraded Tenet Healthcare to Outperform from Peer Perform with a $122 price target. The analyst sees upside to estimates from the Michigan supplemental Medicaid payment increase in 2024 coupled with the company's deleveraging story. The firm confirmed that Michigan has increased its Provider Tax program by $2B for the state fiscal year 2024. Its analysis of state info and Tenet filings points to potential for a $150M to $200M benefit to the company's bottom line or approximately 6%-8% upside versus Wolfe's $2.64B 2024 EBITDA estimate.