Cooper fundamentals strong despite currency headwinds, says Piper Jaffray.

Piper Jaffray analyst Matt O’Brien raised his price target for Cooper Companies to $300 from $280 following the company’s “mixed” Q4 results. Revenue beat expectations but earnings came in light due to currency and some transitory product costs, O’Brien tells investors in a post-earnings research. Further, the company’s guidance for 2019 was below the Street largely due to a negative currency outlook, adds the analyst. However, O’Brien believes the fundamentals of Cooper’s business remain strong. He points out that currency related selloffs typically represent good buying opportunities and keeps an Overweight rating on Cooper Companies.
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