Berenberg Upgrades Coty Inc. (COTY) to Hold

November 18, 2016 6:20 AM EST
Get Alerts COTY Hot Sheet
Price: $19.02 +2.26%

Rating Summary:
    5 Buy, 11 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Berenberg upgraded Coty Inc. (NYSE: COTY) from Sell to Hold with a price target of $18.00, saying downside is more limited although it is still too early to buy.

Analyst Rosie Edwards commented, " We upgrade Coty to Hold (from Sell) after its recent share price underperformance (the shares have fallen by 25% since our initiation versus staples down by 6%). This was in part driven by disappointing Q1 2017 results; underlying top-line declines of 8% raised concerns around the group’s ability to accelerate growth and near-term headwinds have made FY20E profitability and EPS targets (19.6% EBITA margin and adjusted EPS of $1.53) harder to achieve. The downside to valuation, however, looks more limited."

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 $18.60 yesterday.

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