Jefferies upgraded Cooper Companies (COO) to Buy from Hold with a price target of $115, up from $107. The analyst views Cooper as best-positioned to take share in contact lens for the foreseeable future driven by daily SiHy trade-ups, significant increases in supply starting in fiscal 2025, and the company’s leadership in myopia management. The firm says cites channel checks, Cooper’s doubled capex in past two years, continued strong 2%-3% price increases, and a consumer survey for its views. Comparing Cooper versus Alcon (ALC) also shows a large divergence in price-to-earnings multiple, which is unjustified, Jefferies adds.
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