Information Provided By:
Fly News Breaks for April 4, 2017
THC
Apr 4, 2017 | 16:33 EDT
Deutsche Bank analyst Chris Rigg initiated Tenet with a Buy and a $28 price target saying the company has been "reorienting" its business towards the faster growing and much less capital intensive ambulatory and revenue cycle management segments and away from capital intensive acute care segment. Rigg said Tenet is well positioned to self fund near-term capital commitments and believes the company's 2017 EBITDA guidance is achievable.
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.