KeyBanc Starts Tenet Healthcare (THC) at Hold

KeyBanc initiates coverage on Tenet Healthcare (NYSE: THC) with a Hold.

The analyst comments, "We are positive on THC's progress and capital deployment strategy since it rejected Community Health Systems' (CYH-NYSE) acquisition offer two years ago, as well as the deal to acquire Vanguard Health Systems (VHS-NYSE). However, with the shares up 115% over the last year (vs. 22% for the S&P 500) and management's recent warning on 2Q volumes, we would wait for evidence of near-term operating stability and/or a potential pull-back in the share price before getting more positive with our rating."

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 $43.17 yesterday.

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