Tenet Healthcare upgraded to "hold"

08/28/07 - Deutsche Securities

NEW YORK, August 28 (newratings.com) - Analyst Darren Lehrich of Deutsche Bank Securities upgrades Tenet Healthcare (THC) from "sell" to "hold." The target price is set to $4.

In a research note published yesterday, the analyst mentions that the company’s performance is likely to have bottomed out operationally. Growing volumes, an improvement in the cash position through further divestitures and the scope for a USC settlement are expected to act as catalysts for Tenet Healthcare’s share price, the analyst says. The company’s share price appropriately reflects a slow turnaround and the current risk/reward profile, Deutsche Bank Securities adds.