Baird analyst Jeff Johnson upgraded Cooper Companies to Outperform from Neutral with a price target of $375, up from $345. The analyst expects Cooper to miss fiscal Q4 estimates and guide fiscal 2023 earnings below the Street. However, he’s been encouraged by recent "still-healthy" contact lens end-market checks and sees pricing tailwinds next year. Currency and interest rate risks will prove more manageable for the company in fiscal 2023, and with double-digit earnings growth likely resuming in the back half of next year, Cooper has a "path to improving sentiment and share price outperformance over coming quarters," Johnson tells investors in a research note.
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