Jefferies Downgrades Coty Inc. (COTY) to Hold

Jefferies analyst Ashley Helgans downgraded Coty Inc. (NYSE: COTY) from Buy to Hold with a price target of $4.00 (from $6.00).

The analyst comments "COTY's underperformance in mass is not new, but we had hoped that strategic investment, validated by sequential EMV improvement in Q2, could lead to recovery. COTY has now signaled plans to pull back mass cosmetics investment, likely exacerbating declines. The biz portfolio is now increasingly reliant on fragrance, with the co losing share as the category moderates. Lack of clear fundamental drivers and mgmt credibility impair our FY outlook. Downgrade to Hold."

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 $4.86 yesterday.

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