Duty-free demand, cost cuts drive Coty's rosy forecast
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November 10, 2021 8:16 AM EST
Coty Inc. (NYSE: COTY) today announced the sale of KKRs remaining 2.4% ownership stake in Coty, converted into approximately 20 million common shares. This transaction follows three earlier transactions over the last three months, as a result of which KKR fully exits Coty. Following the completion of the transaction, Cotys convertible preferred share balance totals approximately $146 million, or the equivalent of approximately 23 million common shares, held by Cotys Chairman of the Board Peter Harf.
The latest transaction will further simplify Cotys capital structure and result in additional annual... More
November 9, 2021 7:01 AM EST
DA Davidson analyst Linda Bolton Weiser raised the price target on Coty Inc. (NYSE: COTY) to $11.50 (from $10.50) while maintaining a Neutral rating.
The analyst commented, "Coty's F1Q22 sales slightly exceeded consensus and were +22% vs. an easy COVID-impacted comp of -20%. EBITDA... More
November 8, 2021 5:37 PM EST
Stifel analyst Mark S. Astrachan raised the price target on Coty Inc. (NYSE: COTY) to $13.00 (from $11.00) while maintaining a Hold rating.
The analyst commented, "We increase F2022-F2023 adjusted EBITDA estimates by 4%-5% following solid F1Q22 results. We also lift... More
