The Cooper Companies (COO) - Bull of the Day

We maintain our Outperform rating on eye-care and surgical products maker The Cooper Companies (COO). The company's fourth-quarter and fiscal 2010 revenues and earnings both beat the Zacks Consensus Estimates, boosted by healthy growth across the board.

Cooper proves to be a turnaround story based on rationalization of plants, successful product launches and better execution. Also, the industry outlook has improved with an expectation of lower drop-out rates and a higher proportion of sales of value-added lenses. Within the industry, Cooper remains a leader in toric lenses.

The company has strengthened its balance sheet by reducing debt with improved free cash flows. We currently have a target price of $69 per share.
 
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