In a report published Wednesday, Stifel Nicolaus analyst Jonathan Block initiated coverage on The Cooper Companies COO with a Buy rating and $150.00 price target.
In the report, Stifel Nicolaus noted, “We are initiating coverage of The Cooper Companies, Inc. (COO) with a Buy rating and $150 target price. We believe the risk profile of Cooper is lower than that of its high-growth peers. We point to the recurring nature of CooperVision's (CVI) business (81% of total revenue) as well as our belief that revenue growth can be achieved from continued material and modality shift, and is not predicated on increases in contact lens prescriptions or pricing. For EPS growth, leverage in the business is likely to come from future revenue growth; however, substantial margin expansion can be achieved from reduced royalty payments alone, allowing for accelerating EPS growth in 2015.”
The Cooper Companies closed on Tuesday at $130.47.
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