UBS Maintains a 'Neutral' on Patterson Companies (PDCO); Raising 'The Bar' and Estimates

May 25, 2012 10:48 AM EDT Send to a Friend
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Price: $41.04 --0%

Rating Summary:
    2 Buy, 10 Hold, 2 Sell

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UBS maintains a 'Neutral' on Patterson Companies (NASDAQ: PDCO) price target raised from $32 to $35.

Analyst, Steven Valiquette, said, "PDCO mgmt has shown a consistent recent annual guidance pattern with a view that dental equipment growth is always poised to re-accelerate each fiscal year. After a couple of years of falling short of initial goals, the +4.6% growth generated in FY12 was closer to initial views of “exceeding mid-single-digit growth views” when factoring in one less week in FY12. However, mgmt has once again set the bar high for FY13 by expecting to exceed +5-7% dental equipment market growth."

UBS raises FY13 EPS estimate from $2.07 to $2.12 and FY14 from $2.29 to $2.36.

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 $33.45 yesterday.




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