Coty price target lowered to $12.50 from $14.50 at DA Davidson

DA Davidson lowered the firm’s price target on Coty (COTY) to $12.50 from $14.50 but keeps a Buy rating on the shares after its Q1 earnings miss. The company’s organic sales growth of 4.5% was impacted by U.S. mass retailer inventory reductions, U.S. drug store closures, and declines in China and Asia travel retail, reducing sell-in by a few percentage points, with softness also expected to continue in Q2, the analyst tells investors in a research note. The firm adds however that the stock is cheap, trading at 6.5-times expected 2026 EBITDA.