As previously reported, Wells Fargo upgraded Tenet Healthcare (THC) to Overweight from Equal Weight with a price target of $195, up from $150. The firm is now more constructive on the hospital group and sees policy risks as having receded following the House passage of budget reconciliation legislation. While the legislation will face changes in the Senate and needs to be passed again by the House, Wells believes healthcare spending cuts are unlikely to worsen and could potentially moderate. Although the coverage impacts will be a headwind, the firm thinks they are likely to be manageable.
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Read More on THC:
- Tenet Healthcare upgraded to Overweight from Equal Weight at Wells Fargo
- Tenet Healthcare Holds Annual Shareholder Meeting
- Tenet Healthcare price target raised to $180 from $165 at BofA
- Tenet Healthcare price target raised to $190 from $175 at Truist
- Billions of dollars of Medicaid payments for hospitals delayed, WSJ reports
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