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UPDATE: J.P. Morgan Raises PT on The Cooper Companies Following Management Meetings


In a report published Thursday, J.P. Morgan analyst Kimberly Gailun reiterated an Overweight rating on The Cooper Companies (NYSE: COO), and raised the price target from $125.00 to $130.00.

In the report, 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: (1) a shift toward daily lenses; and (2) 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 five-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 Wednesday at $117.66.

Latest Ratings for COO

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

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Posted-In: J.P. Morgan Kimberly GailunAnalyst Color Price Target Analyst Ratings

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