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Fly News Breaks for February 28, 2020
PDCO
Feb 28, 2020 | 07:30 EDT
JPMorgan analyst Michael Minchak upgraded Patterson Companies to Neutral from Underweight with a price target of $25, up from $20. The company has "turned the corner" as its performance and execution have improved, evidenced by another quarter of sequential improvement in dental consumables and equipment, Minchak tells investors in a research note. He now believes the stock's overall risk/reward is more balanced. However, the analyst still has broader industry concerns around Patterson's revenue growth and potential for margin compression.
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