BMO Capital Markets issued a report on Tenet Healthcare Corp THC downgrading the company to Market Perform with a $50 price target.
Analysts Jennifer Lynch and Kamellia Saroop wrote, "We continue to view Tenet's diversified business mix and growth-focused strategy as favorable compared to competitors but believe the near-term upside to be limited...Strong first-quarter results, additional (sizable) states signing on for Medicaid expansion, and accretive M&A are some of the catalysts that could push the stock higher."
BMO Capital believes that winter weather poses a threat for patient volume and general patient activity. The firm looks favorably on Tenet Healthcare's Conifer and legacy Vanguard health plans.
Shares of Tenet Healthcare recently traded at $49.04, down 1.9 percent.
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