Wells downgrades Cooper on slowing contact lens market

Wells Fargo downgraded Cooper Companies (COO) to Equal Weight from Overweight with an unchanged price target of $72. With growth in the contact lens market decelerating, Cooper s less likely to outperform the market, the analyst tells investors in a research note. The firm expects the company is issue a more conservative fiscal 2026 guidance when reporting on December that is more back-end weighted. Wells says the contact lens market growth slowed from 7.3% in 2024 to 4.4% year-to-date 2025 while competitor reports point to 4% growth in Q3.