UPDATE: BMO Capital Markets Reiterates Outperform Rating, Raises PT on The Cooper Companies on Solid FY1Q13 Results

In a report published Friday, BMO Capital Markets reiterated its Outperform rating on The Cooper Companies

, and raised its price target from $114.00 to $120.00. BMO Capital Markets noted, “COO reported FY1Q13 results that beat on the top and bottom line, increasing guidance, and raising a few questions along the way. In FY1Q13, revenue of $380 million (up 16.5%; up 18% ex-FX; up 11% organic) was better than the consensus' $365 million, including CVI sales of $301 million (up 12.1%; up 14% ex-FX) and CSI sales of $78 million (up 37.1%; up 1% organic). EPS of $1.23 (up 9.8%) surpassed the Street's $1.19. Management raised 2013 revenue guidance to $1,575-$1,625 million from $1,565-$1,625 million, and EPS to $5.95-$6.10 from $5.90-$6.10.” The Cooper Companies closed on Thursday at $104.70.