Leerink Partners Raises Price Target on Tenet Healthcare (THC) Following Supreme Court Ruling

Leerink Partners maintain a Market Perform rating on Tenet Healthcare (NYSE: THC), and raised the price target to $60.00 (from $56.00), following a favorable Supreme Court ruling yesterday.

Analyst Ana Gupte commented, "SCOTUS ruled yesterday on King v. Burwell in favor of the government with vote count of 6-3 and saved ~6.4MM subsidized enrollees' insurance coverage on Federal Exchanges in 34 states from losing their coverage. THC had a 5% EBITDA exposure to an adverse SCOTUS ruling and as the looming overhang from that clears, we expect THC, along with other hospitals, to re-rate. We are raising our price target to $60 (from $56)."

For an analyst ratings summary and ratings history on Tenet Healthcare click here. For more ratings news on Tenet Healthcare click here.

Shares of Tenet Healthcare closed at $56.21 yesterday.

You May Also Be Interested In

• Canaccord Upgrades Iluka Resources Ltd (ILU:AU) (ILKAF) to Buy
• Berenberg Starts Natwest Group PLC (NWG:LN) (NWG) at Buy
• Axis Capital Limited Upgrades Tata Elxsi Ltd (TELX:IN) to Buy (1)