Cooper Companies price target lowered to $350 from $355 at Piper Sandler

Piper Sandler analyst Jason Bednar lowered the firm’s price target on Cooper Companies to $350 from $355 and keeps an Overweight rating on the shares post the fiscal Q4 results. Margins were weak on a year-over-year basis, with pressures traced to currency and heightened new product/distribution spending, Bednar tells investors in a research note. These issues led to a wide earnings miss, says the analyst. However, he thinks the earnings headwinds "look transient and may prove overestimated," adding Cooper’s "revenue strength has us buyers on weakness."