UPDATE: Jefferies Increases PT to $34 on Patterson Companies on Momentum Gains
Jefferies raises its price target on Patterson companies (NASDAQ: PDCO) from $31 to $34 and reiterates a Hold rating on shares.
Jefferies says, "PDCO's fiscal-4Q12 (Apr) EPS of $0.58 was $0.02 above consensus as stronger revenue growth & a lower tax rate more than offset a weaker than expected profitability experience. We are raising our FY13 EPS forecast to $2.13 (from $2.10). Our PT moves to $34 (from $31) on higher cash flow forecasts."
PDCO closed at $33.50 on Thursday.
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