Coty price target raised to $14 from $12 at Piper Sandler

Piper Sandler raised the firm’s price target on Coty to $14 from $12 and keeps an Overweight rating on the shares. The analyst says management’s update regarding fiscal Q3 sales growth accelerating from Q2 was a "nice incremental positive" since the company’s earnings call just two weeks ago. If trends continue, the could see some upside to Coty’s fiscal 2023 and longer term estimates, the analyst tells investors in a research note.