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UPDATE: JP Morgan Reiterates The Cooper Companies at Overweight Post Model Update

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JP Morgan reiterated its Overweight rating on The Cooper Companies (NYSE: COO) and maintained its price target at $106.

JP Morgan commented, "We are updating our Cooper model to reflect the company's revised royalty agreement with Ciba, announced on December 21. For FY13, we are raising our EPS estimate by $0.15 to $6.00, including quarterly estimates of $1.20, $1.41, $1.65, and $1.74. Looking out to FY14, we are lifting our EPS forecast to $6.68 versus our prior $6.51 estimate, in both cases reflecting a lower royalty rate to Ciba on silicone hydrogel lens sales, offset in part by incremental investment in the business."

The Cooper Companies closed at $91.89 on Wednesday.

Latest Ratings for COO

DateFirmActionFromTo
Sep 2020Raymond JamesMaintainsOutperform
Sep 2020Stephens & Co.MaintainsOverweight
Sep 2020OppenheimerMaintainsPerform

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Posted-In: JP MorganAnalyst Color Reiteration Intraday Update Analyst Ratings

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