Rochester, NY 8/18/2009 10:29:12 PM
Tenet Healthcare Corp., THC ,Tenet Healthcare Ratings Raised by Baird, Company’s Stock Rise
Tenet Healthcare Corp.
Maxim Integrated Products Inc. reports financial results for the fiscal fourth quarter of $8.1 million, or 3 cents a share, on revenue of $394.5 million, as to compared to the earned profit of $66 million, or 20 cents a share, on $501.3 million in sales during the same period a year ago.
This is the first time the brokerage has placed a buy rating on Tenet's stock. Historical volatility fueled previous concerns, 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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