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Fly News Breaks for November 6, 2019
THC
Nov 6, 2019 | 06:05 EDT
Credit Suisse analyst A.J. Rice upgraded Tenet Healthcare to Outperform from Neutral with a price target of $36, up from $25. The analyst sees "solid trends" in the company's hospital business, including improving volumes, steady pricing growth, and "effective management" of underlying cost growth. Tenet has also seen strength in its ambulatory surgery business, Rice tells investors in a research note. Further, he believes the company's spin off its Conifer segment "should further simplify the organization."
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.