Coty price target lowered to $9 from $12 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Coty (COTY) to $9 from $12 and keeps an Equal Weight rating on the shares. The firm said on Friday that the company’s Q1 was in-Line with pre-announcement, but FY25 EBITDA guidance/long-term targets were lowered, and risk is heightened. Morgan Stanley stays on the sidelines with Coty executing its turnaround well but cyclical industry demand and inventory pressure.