Jefferies Starts Henry Schein (HSIC) at Hold
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Price: $90.52 +0.44%
Rating Summary:
17 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 11
Rating Summary:
17 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 11
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Jefferies initiates coverage on Henry Schein (NASDAQ: HSIC) with a Hold. PT $67.00.
The firm said HSIC offers a compelling international story, with its international revenue mix doubling from 16% of composite revenue to 33% in 2010, they are awaiting a better entry point.
"Shares of HSIC currently imply an EV of 7.0x our 2012 EBITDA forecast, representing a ~25% discount to historical levels, but a 25% premium to its historical trough. While current valuations are appealing and appear to discount expectations for a moderate deceleration in its organic revenue growth trajectory in 2012, we prefer to gain exposure to dental product manufacturers where product cycle catalysts and valuation arbitrage opportunities appear more compelling."
For more ratings news on Henry Schein click here and for the rating history of Henry Schein click here.
Shares of Henry Schein closed at $59.52 yesterday.
The firm said HSIC offers a compelling international story, with its international revenue mix doubling from 16% of composite revenue to 33% in 2010, they are awaiting a better entry point.
"Shares of HSIC currently imply an EV of 7.0x our 2012 EBITDA forecast, representing a ~25% discount to historical levels, but a 25% premium to its historical trough. While current valuations are appealing and appear to discount expectations for a moderate deceleration in its organic revenue growth trajectory in 2012, we prefer to gain exposure to dental product manufacturers where product cycle catalysts and valuation arbitrage opportunities appear more compelling."
For more ratings news on Henry Schein click here and for the rating history of Henry Schein click here.
Shares of Henry Schein closed at $59.52 yesterday.
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