In a report published Friday, J.P. Morgan & Co. reiterated its Overweight rating on Cooper Companies COO, and raised its price target from $96.00 to $100.00.
J.P. Morgan noted, “Cooper reported a strong 3Q result on Thursday, with sales of $378M (+8%, +9% organic) topping Street consensus by $10M. CooperVision sales of $314M (+10%cc) were $8M above our forecast and $5M above Street consensus on continued strength from Biofinity as well as ProClear One Day. CooperSurgical sales of $64M were $4M above our forecast, aided by a greater contribution from Origio in the quarter. EPS of $1.45 came in $0.16 above Street consensus. Cooper exceeded expectations by about $0.10 on an operational basis, as one time tax items added another $0.06.”
Cooper Companies closed on Thursday at $86.03.
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