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.)
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