Citi analyst Filippo Falorni lowered the firm’s price target on Coty to $11 from $12 and keeps a Neutral rating on the shares. Post the recent staples underperformance, the analyst views sector valuations as more attractive. Into the Q3 reports, the firm continues to favor names with more emerging market exposure and lower private label penetration. Citi still expects near-term gross margin upside in Q3 but believes the market will not reward earnings beats on margins without solid sales trends.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on COTY:
- Coty initiated with a Hold at Kepler Cheuvreux on high consumer beauty exposure
- Coty price target lowered to $14 from $16 at Piper Sandler
- Coty initiated with a Hold at Kepler Cheuvreux
- Fly Insider; STAAR Surgical, Blade Air among week’s notable insider trades
- Oddity upgraded to Buy from Neutral at BofA
