Sybron coverage initiated by JMP at market outperform

Sybron Dental Specialties, Inc. coverage was initiated by JMP Securities analyst Anthony Ostrea at a market outperform rating and a $46 price target. With $574 million in sales in 2004, Sybron is the third largest worldwide manufacturer of dental consumables. Although shares are up 25% year to date and are at a 52-week high, JMP said it looks for long-term price appreciation based on stable and predictable revenue and earnings growth. Conversations with dentists also indicate strong demand for newly introduced products. Shares of the Orange, Calif., maker of dental products were down $1.08, or 2.56%, at $41.10 on volume of 447,900 shares versus the three-month running average of 209,992 shares.

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