UPDATE: UBS Starts Tenet Healthcare (THC) at Neutral
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(Updated - September 24, 2021 4:41 AM EDT)
UBS analyst Andrew Mok initiates coverage on Tenet Healthcare (NYSE: THC) with a Neutral rating, PT $83.00.
The analyst comments "We think a spin of THC’s revenue cycle management business, Conifer, could be a meaningful value-creation event, but it’s difficult to say and we don’t have enough conviction at this point to value the stock on a SOTP basis. While our analysis of precedent transactions suggests that a spin would be a value-creating event, there's an equally compelling argument that investors will not value the RemainCo on a SOTP basis (see EHC, CI, CVS)."
Shares of Tenet Healthcare closed at $73.23 yesterday.
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