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Fly News Breaks for November 9, 2016
THC
Nov 9, 2016 | 07:24 EDT
As previously reported, BofA/Merrill Tenet to Neutral from Buy and lowered its price target to $25 from $32. Analyst Kevin Fischbeck said the Trump victory and Republican sweep of Congress is a negative for the entire Healthcare Facilities sector as Republicans want to repeal the Affordable Care Act and cut spending. The analyst said the trend is towards less coverage, which will impact volumes and increase bad debt in general. For Tenet in particular, Fischbeck expects Acute care growth to slow and return back to the long-term average.
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