Tenet Healthcare initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Sarah James initiated coverage of Tenet Healthcare with an Overweight rating and $73 price target. The company is well positioned with a "very strong" long-term trajectory of margin expansion from a bolus of acquisitions and de novo starts, the analyst tells investors in a research note. The firm says Tenet is gaining share in the fast-growing ambulatory surgery center market, and improving margin via commercial pricing.