Citi Downgrades Cooper Companies (COO) to Hold
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Citi downgrades Cooper Companies (NYSE: COO) from Buy to Hold. Price target lowered from $47 to $42.
Citi analyst says, "On Thursday, we attended Cooper Companies' analyst meeting in NYC and while the company has made notable progress in getting their business on track, we believe there is much work still to be done, hence we are downgrading the stock to Hold...While we still expect positive stock price return and the company is making progress (e.g., the end of call outs in F4Q, new products, and improving cash flow), EPS growth is at a lower rate than we expected. Our earnings forecasts are moving from above consensus to below consensus."
The Cooper Companies, Inc. (Cooper) develops, manufactures and markets healthcare products, primarily medical devices, through its two business units: CooperVision, Inc. (CVI) and CooperSurgical, Inc. (CSI). CVI develops, manufactures and markets a range of contact lenses for the worldwide vision correction market.
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