Rochester, NY 8/17/2009 7:32:41 PM
Tenet Healthcare Corporation, THC - Tenet Healthcare Stocks Rise Soon After Baird Upped its Rating for the Company
Tenet Healthcare Corporation
Tenet Healthcare Inc. shares gained a market high reaching 7.5% to $4.76 this is soon after Baird upped the hospital management company’s rating to outperform from neutral. This is so far the first time Baird placed a buy rating on the company’s stock according to the note release last Friday.
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Historical volatility fueled these recent moves, but analysts led by Whit Mayo said they see Tenet exceeding expectations over the next six months because of progress with growth initiatives and sustainable cost trends. Baird raised Tenet's price target to $6 from $5, noting the company is on its way to positive free cash flow.
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