Tenet Healthcare initiated with a Buy at TD Cowen

TD Cowen analyst Ryan Langston initiated coverage of Tenet Healthcare (THC) with a Buy rating and $175 price target Since 2021, Tenet has been on a “transformational journey,” divesting 19 hospitals and deleveraging significantly while growing consolidated facilities, the analyst tells investors in a research note. The firm believes management will continue to execute on their strategy of adding ambulatory surgery centers and higher acuity procedures across the portfolio.