Stifel reiterated a Buy rating on Cooper Companies with an $85 price target as the company advances talks to sell its CooperSurgical unit. Multiple parties are interested in the business, and all related legal issues have been settled. Stifel estimates that after the divestiture, Cooper stock could be worth $80 per share, implying roughly 21% upside. CEO Albert White said the vast majority of sale proceeds would fund share repurchases. Cooper Companies operates CooperVision for contact lenses and CooperSurgical for women's health products.
The Cooper Companies, IncStifel reiterated Buy rating with $85 target, sees $80 post-divestiture, and CEO plans buybacks.