12:24 PM EDT, 05/09/2024 (MT Newswires) -- Tenet Healthcare ( THC ) is a "compelling" opportunity even with leverage and volatility concerns, and investors should review the company again as it shows potential for strong performance as turnaround progresses, Deutsche Bank said in a note Thursday.

A broader perspective shows Tenet Healthcare ( THC ) has moved from "a highly leveraged and volatile company" into a stable, more consistently profitable entity with reduced leverage, the note added.

Investors do not realize that the company has fundamentally changed following significant restructuring over several years, according to the note.

"Investors with a multi-year view who can see where this company is headed can find some outperformance in their portfolio," the firm added.

Deutsche Bank reiterated its buy rating on Tenet Healthcare's ( THC ) stock and kept the price target at $126.

The company shares were up 2.5% in recent trading.

Price: 126.01, Change: +3.17, Percent Change: +2.58