Tenet Healthcare Soars 24.75% in Eight Days, Analysts Bullish

Tenet Healthcare Corporation (THC) shares surged 0.55% today, marking an eighth consecutive day of gains and a remarkable 24.75% increase over the past eight days. The stock price reached its highest level since November 2024, with an intraday gain of 1.00%.

The strategy of buying THC shares after they reached a recent high and holding for 1 week yielded moderate returns over the past 5 years. The annualized return was 28.9%, which is higher than the market average, indicating that the strategy capitalized on the stock's volatility. However, the maximum drawdown of 9.36% during the same period highlights the risk of holding a stock after a recent high, as market corrections can lead to short-term losses. Overall, the strategy provided decent returns but came with considerable volatility, making it suitable for risk-tolerant investors looking for short-term opportunities..

Analysts from Goldman Sachs and Morgan Stanley have both raised their target prices for Tenet Healthcare, reflecting a bullish outlook. Goldman Sachs increased its target from $134.00 to $154.00, while Morgan Stanley lifted its target from $165.00 to $175.00. These adjustments indicate a growing confidence in the company's future performance.

Tenet Healthcare is recognized as a strong growth stock, with a Growth Style Score of B. This score is based on the company's forecasted year-over-year earnings growth of 4.6%, making it an attractive option for investors seeking growth opportunities. The positive sentiment from analysts, coupled with the company's growth potential, suggests a favorable outlook for Tenet Healthcare's stock performance in the near future.