Tenet Healthcare price target raised to $137 from $94 at UBS

UBS analyst AJ Rice raised the firm’s price target on Tenet Healthcare to $137 from $94 and keeps a Buy rating on the shares. Tenet reported Q4 results and its 2024 guidance implies roughly 7% adjusted EBITDA growth at the midpoint, which may have some conservatism that leaves room for upside if recent volume and pricing trends continue into 2024, the analyst tells investors in a research note.