Movement Alert|Tenet Healthcare Rises 5.07% in Regular Trading, Multiple Banks Raise Price Targets Following Strong Q2 Earnings

Market Focus07-29

On July 29, Tenet Healthcare rose 5.07% in regular trading, trading at 255.86 USD/share, with turnover of $165 million. The stock continued its post-Q2 earnings momentum, supported by a wave of analyst upgrades.

On the news front, Truist raised its price target on Tenet Healthcare to $290 from $270 on July 28, maintaining a buy rating, citing strong momentum across its hospital and ambulatory surgery center businesses and attractive cash flow generation. Earlier, Morgan Stanley raised its target to $274 from $254 while keeping an overweight rating, and Bank of America lifted its target to $265 from $230.

The upgrades follow Tenet's Q2 results reported on July 24, which significantly beat expectations. Adjusted EPS came in at $6.12 versus the consensus estimate of $4.23, representing a 52.24% year-over-year increase. Revenue of $5.63 billion topped the $5.43 billion estimate. The company also raised its full-year adjusted EPS guidance to $20.30–$21.69, well above the prior analyst consensus of $17.94. RBC noted cost discipline and outpatient growth as key performance drivers, while UBS highlighted lower-than-expected labor costs supporting the EBITDA beat.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment