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Coty price target lowered to $6.70 from $8.30 at TD Cowen

TD Cowen lowered the firm’s price target on Coty (COTY) to $6.70 from $8.30 and keeps a Hold rating on the shares. The firm said they guided down given near-term challenges but fragrance remains resilient. Cowen expects continued pressure in the near term as softness in China and retailers tightening inventory, will likely lead to sell-in tracking below sell-out.

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