Analyst Note| Aaron Degagne |
Narrow-moat Cooper posted record second-quarter revenue of $719,500, up 37.1% year over year compared with the worst period of the pandemic. Cooper continued its recovery this quarter from its poor performance in the second and third quarters of 2020. Operating results were similarly positive. Though the rebound from COVID was more concentrated in 2021 than expected, we do not foresee this significantly affecting our $315 fair value estimate.