Cooper Companies price target lowered to $76 from $84 at Morgan Stanley

Morgan Stanley analyst Patrick Wood lowered the firm’s price target on Cooper Companies (COO) to $76 from $84 and keeps an Equal Weight rating on the shares. Cooper “very clearly had a difficult Q3 print,” with CVI organic growth of 2% “well shy” of buyside expectations of 5% and the explanation on the call of MyDay strength cannibalizing Clariti being “a little confusing,” the analyst tells investors. CVI shortfalls, plus challenges in CSI, leave Cooper in “a tricky spot despite the stock having derated significantly over the last year,” adds the analyst, who views the stock as “still very much in a show-me situation.”