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United States of America

US : Tenet Healthcare Corporation - THC | Tweaking Estimates To Reflect COVID Trends, Adding Conifer Back To 2H21 and 2022E

    Alex Ruscher
    Alex Ruscher

    Sr. Res. Assoc.

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    CGS-CIMB
    14 January 2021
    Published byCGS-CIMB

    We reiterate our Outperform rating on THC shares and raise our price target to $60 (+$5) while adjusting our estimates to 1) reflect stiffer COVID headwinds in 1H21 than previously anticipated and 2) add back Conifer (previously modeled a mid-year 2021 spin). The core thesis remains - as the balanc