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  "documentTitle": "Henry Schein, Inc. (HSIC)",
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  "presentationDate": "2018-09-26 00:00:00",
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  "notes": "The bull case is highlighted with a green box, emphasizing the potential upside based on a higher multiple for Vets First Corp.",
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      "kind": "callout",
      "text": "A peer group high multiple will be warranted to Vets First Corp given the infancy of its rollout as well as the stickiness of its reoccurring revenue stream",
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      "text": "Our bull case scenario suggests that HSIC would be worth $126 representing +50% upside. Our bull case illustrates the upside of HSIC shares today should Vets First Corp be awarded the highest multiple in its peer group.",
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      "text": "Price Target: $126",
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      "text": "Source: Bloomberg, Company Filings and Spruce Point Estimates",
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      "text": "SOTP sensitivity table showing Legacy HSIC, SpinCo, Adjustments, Net Debt, and Price Target calculations across Low, Base, and Bull scenarios.",
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      "kind": "title",
      "text": "HSIC SOTP Sensitivity Analysis",
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