Coty (COTY – Research Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst yesterday. Analyst Susan Anderson from Canaccord Genuity maintained a Buy rating on the stock and has a $8.00 price target.
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Susan Anderson’s rating is based on Coty’s strategic focus on its fragrance business, which represents a significant portion of its sales and is expected to drive future growth. The management’s commitment to diversifying its brand portfolio with long-term licenses and new brand additions, aiming for an incremental revenue of $300M+ by FY29, further supports this positive outlook.
Despite some near-term challenges, Coty’s management has outlined a clear plan to navigate these headwinds, focusing on innovation and strategic investments in fast-growing categories. Additionally, the company is actively managing licensing risks and reducing dependency on any single brand, which mitigates potential future disruptions. These factors combined provide a strong basis for the Buy rating, indicating confidence in Coty’s ability to achieve sustainable growth.
In another report released on February 12, Raymond James also maintained a Buy rating on the stock with a $9.00 price target.