Coty price target lowered to $8 from $8.50 at Stifel

Stifel analyst Mark Astrachan lowered the firm’s price target on Coty (COTY) to $8 from $8.50 and keeps a Hold rating on the shares after the company reported mixed fiscal Q2 results and reduced FY25 expectations. The firm, which says it is “not surprised” by the weaker results and guidance reduction given ongoing beauty category weakness across categories and geographies, anticipates consensus adjusted EBITDA estimates are reduced by about 5% with shares declining by less than the expected negative revisions as weakness was largely anticipated.