Why Tenet Healthcare Dived 13% on Monday
Tenet Healthcare (NYSE: THC) really took it on the chin Monday. An analyst's fairly deep price cut sent the stock downward; at the end of the trading day it was down by over 13%.
Analyst Gary Taylor of J.P. Morgan eviscerated his price target on the healthcare facilities operator's stock, chopping it down to $20 from the former $28. Interestingly, at the same time he lifted his recommendation from underweight to neutral.
The prognosticator wrote that Tenet has made a number of smart acquisitions and divestments that have resulted in a "material strategic transformation."
Source Fool.com
