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UPDATE: Stifel Nicolaus Initiates Patterson Companies at Buy; Discount at Trough

Related PDCO
Patterson Companies Q1 Fiscal Earnings Rise but Miss
Earnings Scheduled For August 21, 2014

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.

Posted-In: Stifel NicolausAnalyst Color Initiation Intraday Update Analyst Ratings

 

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