Rochester,NY 8/19/2009 9:34:31 PM
Tenet Healthcare Corporation.,THC-Wells Fargo starts coverage on Tenet Healthcare with a Market Perform
Tenet Healthcare Corporation
Wells Fargo starts coverage on Tenet Healthcare with a Market Perform. Valuation Range: $3.50 to $5.50.
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Wells analyst says, "Tenet's operations have benefited from lower costs in 1H09, due in part to a weak economy, which is consistent with other hospitals. This has led to margin expansion vs. prior years. It appears guidance for the second half of the year may be extremely conservative. However, we question whether or not the company can significantly improve margins longer term vs. where it will likely be in 2009."
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