UPDATE: Stifel Nicolaus Initiates Henry Schein at Hold on Valuation

Stifel Nicolaus initiated coverage on Henry Schein

with a Hold rating. Stifel Nicolaus commented, "Henry Schein's market share gains in N.A. dental and veterinary have outpaced that of Patterson, the company's biggest competitor. As a result, we believe Schein's premium valuation is well deserved. That said, for the stock to post 20% upside from current levels, Henry Schein would need to recapture a 20x NTM EPS multiple. The stock's peak multiple over the past three years is in the high teens." Henry Schein closed at $82.23 on Wednesday.