Auriga Maintains a 'Buy' on Patterson Companies (PDCO); Q4 Preview

Auriga maintains a 'Buy' on Patterson Companies (NASDAQ: PDCO) price target of $38.00.

Aanalyst, Glen Losev, said, "DCO is set to report F4Q12 results next week. Based on HSIC and SIRO C1Q12 results, we believe PDCO will report results inline with consensus, and above our estimates, due to better than anticipated dental market growth in the U.S. We expect guidance for F2013 to be inline with consensus estimates due to management's conservative nature, and still slow economic expansion in the U.S. We reiterate our Buy rating and our $38 price target. Our positive view is based on: 1) a slowly improving US economy; 2) our belief that the F2013 and F2014 consensus view is too conservative, and not reflecting an improving economy; 3) the company should continue to increase market share; 4) the aging of baby boomers will continue to drive demand for preventive care; and 5) a very capable management team. PDCO has often trades off on earnings which could be used to trade around a core position."

For an analyst ratings summary and ratings history on Patterson Companies click here. For more ratings news on Patterson Companies click here.

Shares of Patterson Companies closed at $33.46 yesterday.

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