Bull of the Day: The Cooper Companies (COO)

We initiate our coverage on The Cooper Companies (COO) with an Outperform rating and a target price of $61. The company reported earnings per share of $0.91 in the third quarter, $0.20 above the Zacks Consensus Estimate.

Cooper proves to be a turnaround story based on rationalization of plants, successful product launches and better execution. Also, industry outlook has improved with an expectation of lower drop-out rates and a higher proportion of sales of value added lenses.

Within the industry, Cooper remains a leader in toric lenses. The company has strengthened its balance sheet by reducing debt with improved free cash flows.

COOPER COS (COO): Free Stock Analysis Report

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