Mizuho Analyst Cuts Price Target For Tenet Healthcare Corp (THC)

Analyst Sheryl Skolnick of Mizuho Securities marinated a Neutral rating on Tenet Healthcare Corp (NYSE:THC) with a cut price target of $28, marking a 1.2% decline from current levels. This rating came after Tenet missed on its second quarter earnings. Skolnick notes that the problem is “a destruction of shareholder value that cannot be reclaimed. It results in higher leverage, lost opportunities to create equity value from share repos or investment in the business (17%+ accretion).” She still questions the accountability of management, the lack of announced departures, and the assurances that shareholders have regarding the company.

According to TipRanks, Skolnick has a success rate of 67% with an average return of 4% per recommendation.

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