Analyst Travis Steed of Bank of America Securities reiterated a Buy rating on Cooper Co, with a price target of $96.00.
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Travis Steed has given his Buy rating due to a combination of factors that suggest Cooper Co is well-positioned for future growth. The company’s recent strategic review, led by the newly appointed Chair Colleen Jay, indicates a strong focus on enhancing long-term shareholder value. This strategic review explores various options such as partnerships, joint ventures, and other transactions, which could potentially unlock significant value for shareholders.
Moreover, despite the revenue guidance being slightly below market expectations, the earnings per share guidance surpasses them, reflecting management’s effective cost control and focus on profitability. The company is also making substantial progress in its key investment areas, such as the CVI and CSI businesses, with improvements in manufacturing, distribution, and IT infrastructure. These efforts, coupled with expected operational margin improvements and significant cost savings from acquisition-related integrations, support the Buy rating as they are likely to drive sustainable growth and shareholder returns.
Steed covers the Healthcare sector, focusing on stocks such as Boston Scientific, Intuitive Surgical, and Medtronic. According to TipRanks, Steed has an average return of 7.0% and a 60.00% success rate on recommended stocks.
In another report released today, Needham also reiterated a Buy rating on the stock with a $100.00 price target.