TD Cowen Rates Tenet Healthcare (THC) buy, $233 Price Target

TD Cowen reaffirms its buy rating on Tenet Healthcare with a $233 price target, a 26.54% upside from the current price.

By EarningsIQ Research Desk · Published Jun 22, 2026, 1:02 PM EDT · Updated Jun 25, 2026, 1:03 PM EDT

Reviewed by automated data checks against the source data. How we make and check alerts

TD Cowen rated Tenet Healthcare Corporation ($THC) "buy" with a $233 price target on June 22, 2026.

Since the rating, $THC is up 4.7% after 1 week, up 9.3% after 1 month and up 49.5% to date (from the $178.75 close on Jun 22, 2026).

THC Tenet Healthcare Corporation

$267.25 +33.99% year to date

Daily close · Oct 16, 2026

Key Points

On June 22, 2026, TD Cowen reiterated its buy rating on Tenet Healthcare with a price target of $233.
TD Cowen's $233 price target implies 26.54% upside from Tenet Healthcare Corporation's ($THC) current $184.13 share price.
Tenet Healthcare, trading at $177.56 on Monday, has a market cap of $14.86 billion and a P/E ratio of 8.98.
Recent insider activity includes sales by Robert Kerrey and buys by several others, while analysts maintain strong buy ratings.

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On June 22, 2026, TD Cowen reiterated its buy rating on Tenet Healthcare Corporation (NYSE:THC), setting a price target of $233. Analyst Ryan Langston remains positive on the stock, which traded at $177.56 on Monday.

Analyst rating track record

TD Cowen vs. the S&P 500

YTD return -34.21% hypothetical

All-time return +4.96% S&P 500 +43.10%

vs. S&P 500 -38.14% behind the index

Hypothetical returns from TD Cowen's disclosed trades, not real profit or advice. How we model this.

Tenet Healthcare Corporation Stock Down 29.7%

Shares of NYSE:THC traded near $177.56 on Monday. Tenet Healthcare has a market cap of about $14.86 billion, with a P/E ratio of 8.98 and a forward P/E of 9.74. The stock has a 52-week low of $146.60 and a high of $247.21, with a 50-day moving average of $182.92 and a 200-day moving average of $198.78. Its beta is 1.28, indicating more volatility compared to the broader market.

12-month forecast

$THC price target

Tenet Healthcare Corporation daily closes and this analyst's $233 target. Not advice.

Recent Earnings

In its most recent earnings report, Tenet Healthcare posted revenue of approximately $21.45 billion, reflecting a growth rate of 2.8%. The company's net margin stood at 7.94%, and its return on equity was 30.29%. The next earnings release is anticipated on July 21, 2026.

Insider Buying and Selling at Tenet Healthcare Corporation

Insider activity at Tenet Healthcare saw Robert Kerrey selling 5,638 shares on May 28, 2026, at an average price of $174.52. On the buying side, Richard Fisher, Cecil Haney, James Bierman, Tammy Romo, and Richard Mark each acquired 1,188 shares on May 27, 2026.

Analysts Set New Price Targets

TD Cowen maintained its buy rating on June 22, 2026, with a target price of $233. Previously, on May 5, 2026, Barclays also maintained a buy rating with a $238 target, while Baird held a hold rating with a $210 target. Stephens & Co. set a buy rating with a $260 target on May 4, 2026. The consensus rating for Tenet Healthcare is a strong buy, with a mean target price of $243.62 from 21 analyst opinions.

About Tenet Healthcare Corporation

Tenet Healthcare Corporation is a major player in the healthcare sector, operating diversified healthcare services across the United States. Based in Dallas, Texas, and led by CEO Dr. Saumya Sutaria, the company runs general hospitals, ambulatory care centers, and specialty hospitals. Founded in 1967, Tenet employs around 77,000 people and offers a wide range of medical services, including acute care, outpatient services, and specialized procedures.

Bottom Line

TD Cowen's reaffirmation of its buy rating with a $233 target highlights continued confidence in Tenet Healthcare's potential. Investors closely watch these ratings as indicators of market sentiment, although it's important to remember that analyst opinions are just one piece of the puzzle. As always, 13F filings and analyst ratings are backward-looking and may not reflect current conditions.