UPDATE: Goldman Sachs Reiterates Neutral Rating, Lowers PT on Patterson Companies
In a report published Wednesday, Goldman Sachs Group reiterated its Neutral rating on Patterson Companies (NASDAQ: PDCO), but slightly lowered its price target from $30.00 to $29.00.
Goldman Sachs noted, “We lower our FY13 EPS to $2.00 from $2.11 to reflect the FY2Q miss and guidance update. Our FY14/FY15 EPS also move lower to $2.25/$2.46 from $2.34/$2.53 largely on follow through of more conservative dental sales and margin assumptions. That said, we do reflect a slightly easier equipment comp in FY14 given FY2Q13's more transient Omnicam issue.”
Patterson Companies closed on Tuesday at $32.99.
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