Coty Inc. (COTY) PT Lowered to $14.50 at DA Davidson

DA Davidson analyst Linda Bolton Weiser lowered the price target on Coty Inc. (NYSE: COTY) to $14.50 (from $17.00) while maintaining a Buy rating.

The analyst comments "BUY-rated COTY pre-announced F1Q25E organic sales +4%-5% Y/Y, slightly below guidance of +6%. EBITDA should be flat to down; we had been at +7% Y/Y. Coty is dialing up the cost savings, and still expects FY25 EBITDA +9%-11% (no matter what sales will be!). Category growth has slowed in the U.S., and retailers are reducing inventory in the U.S., Australia, China, and Asia travel retail. We're lowering organic sales to +2% Y/Y in F2Q25 and +4% in FY25 (from +7%). Given lower growth rates, we are cutting our target multiple to 12.0x from 13.5x and our PT to $14.50 from $17.00, based on 12.0x CY25E EBITDA of $1,250M (reduced from $1,265M)."

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