TD Cowen upgraded Coty to Outperform from Market Perform with a price target of $16, up from $13, after speaking with the company’s Chief Brands Officer of Consumer Beauty, Stefano Curti. Coty is seeing solid fragrance momentum as new generations embrace fragrances in different ways and has premiumization opportunities across geographies and categories, the analyst tells investors in a research note. The firm also highlights the company’s margin expansion potential versus peers, driven by higher prestige and Asia penetration and ongoing cost saving initiatives.
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Read More on COTY:
- Coty signs new license agreement with Etro
- Coty Announces Chief Transformation Officer’s Departure and Board Role
- Coty backs FY24 EPS view 44c-47c, consensus 41c
- Coty reports Q2 adjusted EPS 25c, consensus 20c
- Coty options imply 6.9% move in share price post-earnings
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