BTIG Starts Coty Inc. (COTY) at Buy

BTIG initiated coverage on Coty Inc. (NYSE: COTY) with a Buy rating and a price target of $23.00.

Analyst April Scee said, "Nail inflecting & Fragrance should inflect next 12-18mo, aided by launches and Avon relationship. We assume Dec-Q/1H15 remains soft; however, in 2H15, we see top-line growth return, aided by aggressive innovation, increased marketing & continued EM expansion. Further, we’re likely to see meaningful M&A and/or efficiency benefits next 12 months, giving sufficient support to buy at current levels."

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 $19.13 yesterday.

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