Henry Schein price target raised to $86 from $78 at Piper Sandler

Piper Sandler raised the firm’s price target on Henry Schein to $86 from $78 and keeps an Overweight rating on the shares. Consumables activity sounds mixed as weather and patient cancellations led to an uneven January and as business recovery efforts following the Q4 cybersecurity incident continued into Q1, but the firm was pleasantly surprised to hear positive equipment commentary early in the calendar year and in spite of elevated financing rates. Piper recommends letting shares respond after Tuesday’s results once these dynamics are better understood before building/adding to positions.