Morgan Stanley analyst Craig Hettenbach raised the firm’s price target on HCA Healthcare (HCA) to $410 from $355 and keeps an Equal Weight rating on the shares. HCA’s scale and operating initiatives underpin consistently strong margins, says the analyst, who adds that higher margins and lower capital intensity should drive multiple expansion in Tenet Healthcare (THC) and narrow the gap to HCA. Given that view, the analyst calls out Tenet as the firm’s preferred stock in hospitals.
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