UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Tenet Healthcare Corp. on Recent Upward Momentum

In a report published Monday, Jefferies reiterated its Buy rating on Tenet Healthcare Corp.

, and raised its price target from $26.00 to $48.00. Jefferies noted, “We remain bullish on THC given our belief that the company is on track to realize the projected benefits of ‘healthcare reform' for hospital providers once the law is implemented beginning in 2014. Given our belief that the ‘reform trade' will buoy hospital stocks throughout 2013, particularly as they progress in contracting with ‘exchange plans', we expect THC shares to sustain their recent upward momentum. Reiterate Buy with new$48PT.” Tenet Healthcare Corp. closed on Friday at $39.48.