Piper Sandler analyst Jason Bednar lowered the firm’s price target on Cooper Companies to $350 from $355 and keeps an Overweight rating on the shares post the fiscal Q4 results. Margins were weak on a year-over-year basis, with pressures traced to currency and heightened new product/distribution spending, Bednar tells investors in a research note. These issues led to a wide earnings miss, says the analyst. However, he thinks the earnings headwinds "look transient and may prove overestimated," adding Cooper’s "revenue strength has us buyers on weakness."
Published first on TheFly
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