Tenet Healthcare Corp

THC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Tenet Earnings: Raising Fair Value Estimate on Enhanced Margin Trends Thanks to Better Utilization

Julie Utterback , Luke Yang

Oct 29, 2024

No-moat Tenet Healthcare’s third-quarter results once again exceeded our expectations. We are raising our fair value estimate to $140 per share from $128 due to a slightly higher margin outlook for its hospital and ambulatory care operations. Even after this fair value estimate change, we view shares as moderately overvalued at recent prices, which rose substantially after these results.

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Tenet Healthcare Corp

Tenet Earnings: Raising Fair Value Estimate on Enhanced Margin Trends Thanks to Better Utilization

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