Susan Anderson, an analyst from Canaccord Genuity, maintained the Hold rating on Coty. The associated price target remains the same with $4.00.
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Susan Anderson’s rating is based on Coty’s recent financial performance and ongoing uncertainties. The company’s first-quarter results were largely in line with expectations, showing a slight improvement from the previous quarter. However, sales were still down year-over-year, and the company faces challenges such as destocking and competitive pressures in the Consumer Beauty segment.
Additionally, there are several uncertainties that contribute to the Hold rating. These include the potential sale of Coty’s remaining stake in Wella, the strategic review of its Brazilian and mass cosmetics businesses, and the uncertainty surrounding the Gucci fragrance license. These factors, combined with the company’s efforts to stabilize and improve its financial performance, suggest a cautious approach, leading to the Hold recommendation.
According to TipRanks, Anderson is a 5-star analyst with an average return of 16.6% and a 43.61% success rate. Anderson covers the Consumer Cyclical sector, focusing on stocks such as Ulta Beauty, Peloton Interactive, and Olaplex Holdings.
In another report released today, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $3.50 price target.