Piper Sandler lowered the firm’s price target on Cooper Companies (COO) to $105 from $115 and keeps an Overweight rating on the shares. The firm notes the company reported Q2 results, including revenue and EPS that both finished ahead of consensus and organic CVI growth that improved to +7%, with this latter piece representing a nice showing relative to what bears were circulating. The guidance update is a bit more mixed with revenue growth expectations being pulled in for the second half of the year, while the EPS guide is being raised by 10c at the midpoint, Piper adds. Shares are indicated lower after-hours on a more guarded growth outlook for CVI, but the firm can’t help but feeling the negativity is overdone considering shares will be trading near multi-year valuation lows.
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Read More on COO:
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