UPDATE: Stifel Nicolaus Initiates Patterson Companies at Buy; Discount at Trough
Stifel Nicolaus initiated coverage on Patterson Companie (NASDAQ: PDCO) with a Buy rating and a $39 price target.
Stifel Nicolaus noted, "[W]e look forward and believe the current discount is unlikely to widen further and actually may narrow. We point to: (1) Patterson's N.A. consumables showing signs of share stabilization; (2) Patterson's long-term advantage in high-tech dental equipment; (3) an overweighting to N.A. basic equipment, which we view favorably despite near-term pressure; and (4) an overall N.A. dental market that may be poised for a modest recovery."
Patterson Companies closed at $33.99 on Wednesday.
Latest Ratings for PDCO
|Aug 2015||Piper Jaffray||Upgrades||Neutral||Overweight|
|Dec 2014||Bank of America||Maintains||Buy|
|Nov 2014||Credit Suisse||Maintains||Underperform|
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