UPDATE: Bank of America Reiterates Underperform Rating, Raises PT on Henry Schein on 4Q12 EPS

In a report published Wednesday, Bank of America reiterated its Underperform rating on Henry Schein (NASDAQ: HSIC), and raised its price target from $65.00 to $70.00.Bank of America noted, “HSIC's results should lift its shares as well as those of other dental companies on the strength of the U.S. business and profit trends that in the aggregate contributed to about the best quarter we've ever seen from it. An accretive debt refinancing also bodes well for its future outlook. The more uninspiring international results in a more difficult economic backdrop, however, likely limited the company's ability to raise its 2013 EPS guidance from its prior range. Still, we do expect a consensus view to edge higher, and our Underperform thesis is increasingly more a valuation view relative to other dental and vet constituents than any incremental concern over its ROIC profile.”Henry Schein closed on Tuesday at $90.37.