UPDATE: Bank of America Upgrades Tenet Healthcare to Buy on Improvement Sector Visibility

Bank of America upgraded Tenet Healthcare Corporation
THC
from Neutral to Buy and raised the price target from $32.00 to $42.00. Bank of America noted, "We are upgrading THC to Buy from Neutral and raising our PO to $44 from $32 as we believe hospitals are well positioned to outperform with improving visibility for the group through the year as the market builds in the benefits of HC Reform. Within that backdrop, we have been pleased with the recent progress THC has made in improving its margins and its recent commitment to begin putting its balance sheet to work on deals and share repo. As a result, we believe that THC can outperform the health care facility sector in 2013." Tenet Healthcare closed at $33,16 on Thursday.

Posted In: Bank of AmericaAnalyst ColorUpgradesPre-Market OutlookAnalyst Ratings