Berenberg Starts Coty Inc. (COTY) at Sell

September 9, 2016 7:45 AM EDT
Get Alerts COTY Hot Sheet
Price: $22.64 -1.57%

Rating Summary:
    4 Buy, 11 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 26 | Down: 29 | New: 38
Trade COTY Now!
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.

Berenberg initiates coverage on Coty Inc. (NYSE: COTY) with a Sell rating and a price target of $23.00.

Analyst Rosie Edwards commented, "We are cautious about top-line growth, which is critical for share price outperformance: Coty and P&G have separately been losing share, both reporting negative organic top-line growth. We don’t believe Coty’s exposure to growth will change materially following its acquisition of P&G’s beauty portfolio with a slightly more favourable geographic mix (higher EMs) offset by a weaker category mix (inclusion of hair). We, therefore, have factored in only modest improvements (to c1% by FY19E). This will be offset by portfolio rationalisation, focused on fragrances, with management signalling that 6-8% of the business will be discontinued."

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 $24.78 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, New Coverage

Related Entities

Definitive Agreement

Add Your Comment