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Fly News Breaks for May 8, 2018
COO
May 8, 2018 | 05:44 EDT
After speaking with a domestic contact lens channel check, Piper Jaffray analyst Matt O'Brien says it appears that the riff with 1-800 Contacts and Cooper Companies has been settled. The analyst believes this will likely yield improvements in Cooper Companies' key North American business over the next several quarters. Further, it does not appear Alcon is close to launching its lower cost daily silicone hydrogel lens and that the overall contact lens market is "fairly healthy," O'Brien tells investors in a research note. The analyst encourages investors to start or build positions in Cooper Companies. He has an Overweight rating on the shares with a $280 price target.
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