Tenet Healthcare Corp

THC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Tenet Earnings: Raising FVE on Positive Results Driven by Higher-Acuity Services Expansion

Julie Utterback , Luke Yang

Jul 24, 2024

No-moat Tenet Healthcare posted strong second-quarter results above our expectations. We are raising our fair value estimate to $128 per share from $104 due to an increased near-term outlook based on robust medical utilization trends and expanded higher-acuity offerings. Despite the 23% fair value estimate increase, we still view Tenet’s shares as slightly overvalued.

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Tenet Healthcare Corp

Tenet Earnings: Raising FVE on Positive Results Driven by Higher-Acuity Services Expansion

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