Wells Fargo Downgrades Tenet Healthcare (THC) to Market Perform; CYH Acquisition Likely Outcome

December 22, 2010 7:52 AM EST
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Price: $18.22 --0%

Rating Summary:
    12 Buy, 15 Hold, 1 Sell

Rating Trend: Down Down

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    Up: 0 | Down: 0 | New: 0
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Wells Fargo downgraded Tenet Healthcare (NYSE: THC) from Outperform to Market Perform.

Wells analyst says, "We believe that ultimately Community Health Systems (NYSE: CYH)(rated - Outperform) will acquire shares of THC at about $6.50-7.50 offering investors limited upside from its recent price of $6.83. We think it is unlikely that other bidders will emerge for Tenet and therefore CYH will not need to pay a significant premium beyond its original offer of $6.00."

For more ratings news on Tenet Healthcare click here and for the rating history of Tenet Healthcare click here.

Shares of Tenet Healthcare closed at $6.83 yesterday.

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