Cooper Companies shares could rise 21% post-divestiture, with Stifel setting a new $85 target amid advancing sale talks.
Stifel reiterated a Buy rating on Cooper Companies (NASDAQ:COO) and raised its price target to $85, citing progress in selling its CooperSurgical unit. The brokerage noted multiple interested buyers and a recent settlement of legal issues, signaling advanced negotiations.
Analysts project a 17% upside over 12 months, with post-sale valuations estimating COO at $80 per share, a 21% increase from current levels. The divestiture would refocus Cooper on its contact lens business, CooperVision.
CEO Albert White indicated proceeds would primarily fund share repurchases. The stock is backed by 49 hedge funds, reflecting strong institutional interest.