Patterson Companies price target raised to $37 from $35 at Piper Sandler

Piper Sandler analyst Jason Bednar raised the firm’s price target on Patterson Companies to $37 from $35 and keeps an Overweight rating on the shares. After speaking with management teams, the analyst believes orthodontic volumes showed some modest improvement the past few months, albeit still below year-ago levels. Implant volumes also continue to grow at a solid pace, the analyst tells investors in a research note. As such a result, Piper raised valuation multiples and price targets across its coverage of diversified dental players.