Buy Rating on Cooper Co: Undervalued Stock with Potential Market Recovery and Earnings Upside

Bank of America Securities analyst Craig Bijou reiterated a Buy rating on Cooper Co (COO – Research Report) today and set a price target of $96.00.

Craig Bijou has given his Buy rating due to a combination of factors including the current undervaluation of Cooper Co’s stock and the potential for a quick recovery in the contact lens market. Despite the recent decline in Cooper’s share price, which is at its lowest in nearly a decade, Bijou believes that the market is overly pessimistic about the company’s revenue growth prospects. The concerns about the contact lens market appear to be exaggerated, as inventory normalization is seen as a temporary issue.
Bijou also notes that Cooper Co is well-positioned to achieve its fiscal targets for the second half of 2025 and 2026, with potential earnings per share upside driven by operational efficiencies, favorable foreign exchange conditions, reduced interest expenses, and share buybacks. The anticipated recovery in the contact lens market, along with the successful execution of Cooper’s updated guidance, supports the Buy rating. Additionally, the expected growth in Cooper’s MyDay and MiSight products could further accelerate performance in the upcoming quarters.

In another report released on June 17, Needham also upgraded the stock to a Buy with a $94.00 price target.