UPDATE: Bank of America Upgrades DENTSPLY International to Buy, Raises PT on Multiple Positive Factors

In a report published Friday, Bank of America analyst Erin E. Wilson upgraded the rating on DENTSPLY International XRAY from Underperform to Buy, and raised the price target from $35.00 to $48.00. In the report, Bank of America noted, “While weak global macroeconomic conditions and lackluster utilization trends have kept dental sentiment low, improving employment and consumer spending patterns as well as recent data points from industry constituents suggest a sustained turnaround in underlying dental demand. While we are maintaining 2013 EPS and our Street high 2014 EPS of $2.60, we are raising our Price Objective to $48 (from $35) on greater conviction in its growth prospects in 2014 and beyond. We also raise our rating to Buy.” DENTSPLY International closed on Thursday at $43.22.