BofA analyst Michael Cherny upgraded Patterson Companies to Neutral from Underperform with a price target of $22.50, up from $19.50. In a research note to investors, Cherny says that while Patterson has seen multiple years of challenged operating performance particularly within its Dental segment, the company saw signs of total segment improvement from a Primescan-led dental equipment cycle, while multiple years of consumables declines sets Patterson up for easier comps while also benefiting from the recent Pacific Dental Services win. While the recent weakness in production animal keeps him from becoming completely bullish on the story, Cherny says the potential for an end to negative earnings revisions leaves a more balanced risk/reward.