Patterson Companies (NASDAQ:PDCO) Differentiation Exceeding Expectations

Patterson Companies (NASDAQ:PDCO) can't do anything about the current economic environment, but they can add value to their clients via the differentiation of the products they offer, and that's what they're doing, according to Jefferies.

"An improving economic environment and steady consumables growth are required to drive shares meaningfully higher. In the meantime, PDCO continues to add value to clients through its differentiated technology/equipment offerings that, thus far, have exceeded our expectations," said Jefferies.

EPS estimate for full year 2011 was lowered to $1.93 from $1.94 and their revenue estimate was raised to $3.4 billion from $3.39 billion.

Patterson closed Wednesday at $30.19, gaining $1.15, or 3.96 percent. Jefferies has a price target of $35 on them, increasing it from $31. They also maintain their "Buy" rating on them.