BUZZ-Cooper Companies soars after initiating strategic review

Reuters12-05 17:53
BUZZ-Cooper Companies soars after initiating strategic review

** Medical device maker Cooper Companies' COO.O shares jump 13% to $87 premarket

** Co says it is initiating a formal strategic review aimed at identifying opportunities to enhance long-term shareholder value

** Co says it is actively focused on improving performance in core markets, expanding market share, enhancing operational efficiency and generating strong returns through capital deployment initiatives as part of the review

** Co forecasts fiscal 2026 revenue of $4.299 bln to $4.338 bln vs analysts' estimate of $4.32 bln

** "It's encouraging to see organic growth guidance starting at a level that gives the company more room to maneuver, and adding total shareholder return to the executive performance rubric is also a solid step in the right direction for the strategic review" - J.P.Morgan

** 11 of 20 brokerages rate the stock "buy" or higher, eight "hold" and one "sell" or lower; their median PT is $85.5, as per data compiled by LSEG

** YTD, stock fell 16.2% through Thursday

(Reporting by Joel Jose in Bengaluru)

((mailto: joeljose@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment