UPDATE: UBS Securities Downgrades Patterson Companies on F2Q14 Preview and Valuation Update

In a report published Wednesday, UBS Securities analyst Steven Valiquette downgraded the rating on Patterson Companies (NASDAQ: PDCO ) from Buy to Neutral, but reiterated the $46.00 price target. In the report, UBS Securities noted, “Based on strong U.S. trends from dental/vet peers, and a much easier dental equip comp,