Henry Schein price target raised to $75 from $65 at BofA

BofA analyst Allen Lutz raised the firm’s price target on Henry Schein to $75 from $65 and keeps an Underperform rating on the shares, noting that the company saw a recovery of revenue in the second half of the fourth quarter and that the broader impact from customer attrition appears contained, which it calls “a clear positive heading into 2024.” The firm’s higher target reflects lower risk related to customer losses/attrition, but it reiterates an Underperform rating as in notes that Henry Schein continues to point to endmarket growth toward the low end of its long-term guidance ranges, with weakness in dental driven in part by softness on equipment sales and pricing headwinds.