Halister News

(Bloomberg) -- Henry Schein indicated $82-$83 pre-market vs $80.57 close after Piper Jaffray analyst Sarah James upgraded to overweight from neutral (PT $193 from $95), saying investor concern over the threat of Amazon entering the market is overdone.

• Sees potential for improvement in dental consumables based on proprietary consumer surveys and management comments
• Recent pressure on the stock has moved valuation to an attractive entry point
• Increasingly confident Amazon does not pose a threat, noting it has a track record of avoiding high touch industries, where it would need a local sales force and showrooms
• Shares up 6% YTD vs S&P 500 Health ahead 20%
• HSIC 9 buys, 8 holds, 0 sells, avg PT $95: Bloomberg
• NOTE: Sept. 13, Henry Schein Falls as Stifel Sees Amazon Threat to Dental Market
  • Sept. 7, Patterson Cos. Up; Baird Says Dental Conference May Boost Demand

To contact the reporter on this story: Tatiana Darie in New York at tdarie1@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Scott Schnipper