Jefferies upgraded Cooper Companies (COO) to Buy from Hold with a price target of $115, up from $107. The analyst views Cooper as best-positioned to take share in contact lens for the foreseeable future driven by daily SiHy trade-ups, significant increases in supply starting in fiscal 2025, and the company’s leadership in myopia management. The firm says cites channel checks, Cooper’s doubled capex in past two years, continued strong 2%-3% price increases, and a consumer survey for its views. Comparing Cooper versus Alcon (ALC) also shows a large divergence in price-to-earnings multiple, which is unjustified, Jefferies adds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on COO:
- 3 Best Healthcare Stocks to Buy in June 2024, as per Analysts
- Early notable gainers among liquid option names on May 31st
- Cooper Companies price target raised to $118 from $116 at Baird
- Cooper Companies raises FY24 EPS view to $3.54-$3.60 from $3.50-$3.58
- Cooper Companies reports Q2 EPS 85c, consensus 83c