Research group Mizhuo became the latest equity analysts to reduce the stock price target for Tenet Healthcare, reducing its figure from $80 to $60 in a recent note, MarketBeat reported Nov. 2. The Dallas-based hospital group currently trades at around $40.
Mizhuo joins other research groups, including Raymond James and UBS, in lowering the Tenet target price. The consensus around the stock price is a "moderate buy" with an average target of $72.38.
Tenet, which trades on the New York Stock Exchange under the ticker THC, reported similar net operating revenues in the third quarter compared to the same period in 2021, but its net income for the nine months ending Sept. 30 was $308 million, compared with $665 million in the same period in 2021.