Citi lowered the firm’s price target on Cooper Companies (COO) to $110 from $115 and keeps a Buy rating on the shares. The company’s fiscal Q1 results have some “some puts and takes,” the analyst tells investors in a research note. The firm says the revenue shortfall was attributed to channel inventory reduction early in the quarter and order timing while gross margins expanded. Cooper’s outlook is second half of the year waited, which will likely weigh on the stock, contends Citi.
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