Cooper Rolls Out Avaira Toric Ahead Of Schedule

Jefferies & Company has published a research report on Cooper Companies (NYSE: COO) as CooperVision introduces its Avaira Toric nationwide ahead of schedule.

In the report, Jefferies writes "COO initially introduced the Avaira Toric lens in test markets outside of the U.S. during its FQ2:10 (June '10) quarter and was anticipating a more aggressive rollout during the second of 2011. This morning's announcement is at least 5 months ahead of schedule and a clear indication that the company's new manufacturing capacity is ready to handle additional production. From a competitive standpoint, the domestic rollout of Avaira Toric supports further market share gains, particularly from Johnson & Johnson's (JNJ-NC) Vistakon subsidiary, which has a dominant share position within the 2-week U.S. market."

Jefferies maintains its Hold rating and $54 price target.

Cooper Companies closed yesterday at $57.46.