Tenet Healthcare price target raised to $160 from $155 at Deutsche Bank

Deutsche Bank raised the firm’s price target on Tenet Healthcare to $160 from $155 and keeps a Buy rating on the shares following the Q2 report. The firm says that while Tene remains a riskier investment than HCA due to its shorter term positive track record and investor base of primarily hedge funds versus long-only, the stock “can provide alpha to a portfolio over the next several years.” Over the next year or two Tenet should see more long-only interest due to its growth rate, capital deployment strategy and de-levering, all of which can increase the multiple, the analyst tells investors in a research note.