JPMorgan raises Cooper Companies stock to Overweight, target to $120 By

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On Wednesday, JPMorgan made a bullish move on Cooper Companies (NASDAQ:COO), upgrading the stock from Neutral to Overweight and increasing the price target to $120 from the previous $100. The firm’s analyst highlighted Cooper’s consistent top-line growth and its translation into bottom-line strength as key reasons for the upgrade.

Cooper Companies has shown commendable performance in recent quarters with its contact lens division, CooperVision (CVI), consistently outpacing the market. The growth is attributed to favorable market trends, pricing strategies, and success in high-growth segments as well as new product fits. The company’s Surgical business, particularly its Fertility segment, has also contributed to its positive trajectory with sustained double-digit growth.

The analyst expressed confidence in Cooper’s financial management, noting the company’s focus on delivering predictable and improved reported results. The beginning of fiscal year 2024 has been promising, and there is a belief that management is dedicated to driving profitability and predictability.

The improved outlook for Cooper Companies is further supported by a more stable macroeconomic environment, which allows for a sharper focus on the company’s fundamentals.

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