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Fly News Breaks for August 21, 2017
THC
Aug 21, 2017 | 07:17 EDT
Leerink analyst Ana Gupte raised her price target for Tenet to $30 from $23 in anticipation of activist restructuring and sees further upside to as much as $50 as the process works itself through. The analyst believes the announcement by Glenview Capital Management that its two representatives are resigning from the Board, in combination with the company's 8-K filing is an indication that Glenview is moving to an aggressive activist role to unlock value. Gupte reiterates an Outperform rating on the shares.
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