Morgan Stanley raised the firm’s price target on Patterson Companies (PDCO) to $31.35 from $27 and keeps an Equal Weight rating on the shares. The dental industry “continues to be plagued by prolonged turnaround stories,” which the firm believes will serve as an impetus for more private equity interest, with the latest being Patient Square Capital’s acquisition of Patterson, the analyst tells investors. The firm’s revised target reflects the takeout price agreed upon by Patient Square.
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