Cooper Companies (COO) PT Lowered to $85 at Mizuho ahead of Q2 report
Mizuho analyst Anthony Petrone lowered the price target on Cooper Companies (NASDAQ: COO) to $85.00 (from $100.00) while maintaining a Outperform rating.
The analyst commented: "COO is set to report its F2Q (April) results tomorrow AMC, where the high-level key focus areas will be around latest updates on contact lens market backdrop, CVI share dynamics implied by top-line print along with new fit start commentary, and updates around the "Strategic Review" announced late last calendar year. On the contact lens side of business, we are now in camp that recent uptick in inflation stemming from the geopolitical backdrop will likely show up in end-market pricing before year-end, which could render the prevailing CVI guide ($2.906 - $2.932 billion) conservative. Regarding the ongoing Strategic Review, we expect to hear at least some incremental updates given the now six months since the initial announcement, coupled with further recent board changes. We make small model tweaks and lower PT to $85 from $100, which is supported by our updated SOTP analysis."