Tenet Healthcare: Asset Sales, Current Multiples Support Re-Rating (Rating Upgrade)
THCTenet Health(THC) Seeking Alpha·2024-06-17 10:55
Pgiam/iStock via Getty Images Investment Summary Since my last publication on Tenet Healthcare Corporation (NYSE:THC) shares have caught a tremendous bid and now trade nearly 180% to the upside (Figure 1). The key catalyst to the repricing has been management's divestiture of lazy assets within the company's surgery centres portfolio. This has unlocked substantial capital on the balance sheet and provided it with new funds to deploy in high-return opportunities. Of course, this does not come without ris ...