Piper Sandler raised the firm’s price target on Cooper Companies (COO) to $94 from $83 and keeps an Overweight rating on the shares. The firm notes the company reported above-expected Q4 revenue and EPS, including the first CVI beat seen in a year. Piper further points out that each of CVI and CSI contributed to upside vs. Street revenue, and EPS benefits arose from cost reduction-related operating margin outperformance. Revenue and EPS guidance are also ahead of expectations, and it currently seems as if there are some upside levers that could materialize for EPS, the firm adds.
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