Cooper Companies price target lowered to $83 from $105 at Piper Sandler

Piper Sandler lowered the firm’s price target on Cooper Companies (COO) to $83 from $105 and keeps an Overweight rating on the shares. The firm says the company’s streak of disappointing CVI results continued at +2% organic vs. guidance/expectations of +5%, the weakest performance for the segment since the Great Recession and the primary factor driving shares down 12% after hours from what were already depressed valuation levels. If not for shares already being under pressure and significant value unlocking potential available through a handful of avenues, Piper says it would likely be reconsidering its rating today.