5 Undervalued Counter Cyclical Stocks to Buy Now

2. Tenet Healthcare Corporation (NYSE:THC)

On June 9, 2026, BofA lowered the firm’s price target on Tenet Healthcare Corporation (NYSE:THC) to $210 from $230 and maintained a Buy rating on the shares. BofA said it was lowering price targets for several hospital names because of lower multiples tied to the generally weak utilization backdrop.

Last month, Barclays analyst Andrew Mok lowered the firm’s price target on Tenet Healthcare Corporation (NYSE:THC) to $238 from $257 and maintained an Overweight rating on the shares following the Q1 report. Mok said Tenet “exhibited its ability to flex the acute cost structure” despite volume headwinds. Morgan Stanley also lowered the firm’s price target on Tenet to $254 from $260 and maintained an Overweight rating, saying the company’s consistent execution was evident in Q1, where EBITDA beat by 3.5% despite industry headwinds.

Earlier, Tenet Healthcare Corporation (NYSE:THC) reported Q1 adjusted EPS of $4.82, compared with consensus of $4.17, and revenue of $5.37B, compared with consensus of $5.4B. CEO Saum Sutaria said the company delivered strong results in both the Ambulatory and Hospital segments, supported by disciplined operations and strong free cash flow. Sutaria also said Tenet continues to support physician partners as it executes on its high acuity strategy and grows organically and inorganically.

Tenet Healthcare Corporation (NYSE:THC) operates as a diversified healthcare services company in the United States.