Stifel lowered the firm’s price target on Patterson Companies (PDCO) to $24 from $25 and keeps a Hold rating on the shares. The firm noted that Q2 results were “weak” as the company faces the challenges of relatively tepid end markets coupled with some company specific items. While the firm believes sentiment was already there for lowered FY25 earnings guidance, the bar remains high even for the revised numbers as about 70% of FY25 EPS needs to be derived in the second half versus the last three-year average off 59%, the analyst tells investors in a research note.
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Read More on PDCO:
- Morning Movers: Fiserv shares drop following CEO’s nomination to Trump’s cabinet
- Patterson Companies cuts FY25 adjusted EPS view to $2.25-$2.35 from $2.33-$2.43
- Patterson Companies announces review of strategic alternatives
- Patterson Companies reports Q2 adjusted EPS 47c, consensus 49c
- GE Vernova initiated, Merck upgraded: Wall Street’s top analyst calls
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
