BofA Securities Downgrades Cooper Companies (COO) to Neutral

BofA Securities analyst Craig Bijou downgraded Cooper Companies (NASDAQ: COO) from Buy to Neutral with a price target of $65.00 (from $80.00).

The analyst comments "COO announced its decision to retain CSI following the strategic review. COO could not sell CSI for an attractive valuation given PARAGARD competition and fertility litigation settlement. We think the lack of a buyer at an attractive valuation likely causes investors to view CSI as a structurally lower valuation asset and it likely takes any SOTP optionality off the table for a while. COO also reported FQ3 results where CVI guide was reduced for the second time this year to 1-2% growth (from 3.5%-4.5% prior) with CVI growth of -2%-0% in FQ4. COO has been missing guides and lowering too often over the last couple of years. We downgrade COO from Buy to Neutral. We also lower our PO to $65 based on 14x FY27 EPS (from prior $80 on 16x FY27 EPS) to reflect the lower growth outlook and revised lower EPS."

For an analyst ratings summary and ratings history on Cooper Companies click here. For more ratings news on Cooper Companies click here.

Shares of Cooper Companies closed at $63.48 yesterday.

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