Jefferies Initiates Coverage On Tenet Healthcare With Buy Rating

According to Jefferies, Tenet Healthcare (NYSE: THC) coverage is initiated with a Buy rating.

Jefferies reported that it is initiating coverage of THC with a Buy rating and $9.50 price target. “We believe THC is a compelling turnaround story with an attractive valuation, low leverage, and above-industry earnings growth. While Community Health's unsolicited bid has driven THC's stock price significantly higher since December, we see more upside from ongoing margin improvement and improved economic-driven volumes and payer mix.”

Tenet Healthcare closed yesterday at $6.54.