Piper Jaffray Assumes Coty Inc. (COTY) at Overweight

Piper Jaffray assumes coverage on Coty Inc. (NYSE: COTY) with a Overweight rating and a price target of $20.00 (from $19.00).

Analyst Stephanie Wissink comments, " Our newly formed coverage universe focuses on consumer packaged goods companies encompassing household, beauty and children's products. Our viewpoint will be anchored around three key themes we see driving industry growth: demographics, distribution and diversification. We think companies with strategies to capitalize on millennial demand, cross channel distribution, and brand portfolio diversification will outperform. We see COTY as one of these companies with 10 global power brands, a balanced mix across segments(skincare, fragrance & cosmetics) and channels (mass, dept store, specialty), and a culture built around innovation. We anticipate revenue growth in the LSD range while cost realignment efforts are likely to drive an improved operating rate. We are maintaining estimates and OW rating."

For an analyst ratings summary and ratings history on Coty Inc. click here. For more ratings news on Coty Inc. click here.

Shares of Coty Inc. closed at $17.54 yesterday.

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