Morgan Keegan Raises PT On COO

Morgan Keegan, after meeting with management at The Cooper Companies (NYSE: COO) has reiterated its Outperform rating and has upped its price target from $73 to $80.

Morgan Keegan states, “The key take-aways from our meeting include: (1) management articulated a plan to drive operating margin to the mid-20% range by 2016 from the fiscal 2011 guidance of 17%-18%, (2) new contact lens product launches remain on track for the 2H of fiscal 2011, and (3) disruptions in Japan due to the recent earthquake continue to be minimal.”

COO closed yesterday at $69.39.