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Fly News Breaks for January 4, 2016
THC
Jan 4, 2016 | 05:55 EDT
Wells Fargo analyst Gary Lieberman downgraded Tenet Healthcare (THC) and two other hospitals to Market Perform citing his less bullish stance on the group. Hospital results are unlikely to exceed expectations in 2016 as Medicaid expansion by additional states won't happen this year, Lieberman tells investors in a research note. He believes any rally in shares from Tenet's Q4 results will be short lived and cut his price target range for the name to $30-$36 from $40-$50.
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