Color on Baird Upgrade of Tenet (THC): Will 'Consistently' Beat the Street Over the Next 6 Months

Color on Baird note on Tenet Healthcare (NYSE: THC):

Robert W. Baird upgrades Tenet Healthcare from Neutral to Outperform with a $6 price target.

The firm cites progress with its growth initiatives and continued easing of risks, and believes that, over the next six months, Tenet will consistently exceed expectations. Baird also feels that Tenet is "on the cusp of positive free cash flow".

Despite more than quadrupling since mid-April, when the stock was around $1.05, the firm believes that Tenet still has more room to run. Today, with Tenet's stock up 7% to $4.74, Baird's price target represents potential price appreciation of more than 25% from current levels.

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