Jefferies reiterated a Buy rating on Cooper Companies (NYSE: COO), and raised the price target to $190.00 (from $175.00), following the company's 2Q earnings report. The feedback from an initial contact lens survey suggested that the redesign of clariti 1-day was being well received and resulting in share gains. This played out in the quarter with SiHY daily growth accelerating to +52% where the clariti redesign was called out as a key driver.

Analyst Anthony Petrone commented, "COO put up a $20mn/$0.14 beat and raised F16 guidance by $60mn/$0.20 at the midpoint. US growth was +9% versus flat for the overall market indicating a return to share gains which was driven by strength in clariti/MyDay and Biofinity. Looking ahead, some conservatism is baked-in for the pending JNJ monthly launch but as we mentioned in our prior note, this seems manageable from a number of vectors. Raising estimates and PT to $190."

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Shares of Cooper Companies closed at $167.42 yesterday.