UPDATE: J.P. Morgan Reiterates Overweight Rating, Raises PT on The Cooper Companies Ahead of F1Q Results on Thursday

In a report published Monday, J.P. Morgan reiterated its Overweight rating on The Cooper Companies

, and raised its price target from $106.00 to $114.00. J.P. Morgan noted, “We view Cooper as well-positioned within the contact lens market, with attractive new offerings across the product spectrum, led by its silicone hydrogel franchise. Growth for the contact lens market has stabilized in the mid-single digits, with the potential to improve going forward with development of emerging markets like China and India. We view above market growth as reasonable for Cooper over the next 18-24 months, driven by new product launches and a continued trade up of the company's customer base to SiH (Biofinity). Further, we expect SG&A investments to begin to pay off moving through FY13, with an attractive GM expansion story over the next several years. We forecast a 5-year sales and EPS CAGR for Cooper of 6-7% and 14%, respectively, which is above most of the company's mid and large cap peer group.” The Cooper Companies closed on Friday at $102.91.