Patterson Companies price target lowered to $32 from $34 at BofA

BofA lowered the firm’s price target on Patterson Companies to $32 from $34 and keeps a Buy rating on the shares. The firm is lowering its Q4 and FY25 revenue and EPS estimates for Patterson following earnings from peers in the dental supply chain reflecting softer dental trends, the analyst tells investors. However, the firm maintains a Buy rating as it continues to see margin upside over time across both the Dental and Animal Health segments against an “undemanding valuation.”