Fly News Breaks for November 20, 2018
COO
Nov 20, 2018 | 05:43 EDT
After speaking with a mid-sized contact lens distributor, Piper Jaffray analyst Matt O'Brien believes Cooper Companies' fundamentals remain "quite strong." Overall, the market for contacts remains healthy and it appears the dropout rate for lenses is falling slightly, which should help the category, O'Brien tells investors in a research note. The analyst, however, believes the strengthening U.S. dollar will again hurt Cooper's revenue and earnings outlook for the business. He lowered his estimates for the company but keeps an Overweight rating on the name with a $280 price target. O'Brien thinks Cooper remains one of the more compelling names in Medtech.
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