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Tenet Healthcare Corp. (THC) stock rose in heavy trading for the second consecutive day after a Credit Suisse analyst upgraded the stock on Friday from Neutral to Outperform, saying the hospital operator's revenue will likely increase because prices are improving. Citing first-quarter earnings from insurance companies like UnitedHealth (UNH) and WellPoint (WLP) showing that hospital prices are growing the Credit Suisse analyst suggested Tenet will report stronger growth in admission prices than expected. The target price was raised to $8.00 per share from $6.00.
With a new FusionIQ timing BUY signal and a point and figure target of $ 10.00 plus solid base support just below $6.00, pullbacks in THC would provide good risk reward set up for investors with an intermediate term time frame.
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