UPDATE: Bank Of America Reiterates On Patterson Companies, Inc. On New Positive Outlook

In a report published Tuesday, Bank of America analyst Robert M. Willoughby reiterated a Buy rating on

, and raised the price target from $44.00 to $47.00. In the report, Bank of America noted, “About the only thing worse than going to the dentist has been recommending PDCO's shares over the last few years. The company has not consistently met EPS targets historically, missing the consensus view in four of the past eleven quarters. However, under a new CFO, we anticipate a more consistent earnings experience on improving dental industry fundamentals and a more conservative EPS guidance philosophy that should support the shares. We believe valuation could be further enhanced by the likely sale of its profitable Medical operations and recapitalization of its balance sheet.” Patterson Companies, Inc. closed on Monday at $40.45.