Coty downgraded to Hold from Buy at Berenberg

Berenberg downgraded Coty (COTY) to Hold from Buy with a price target of $5.05, down from $6.50. The firm’s prior investment thesis was based on a return to positive like-for-like sales growth from Q1 of 2026. However, continued retailer destocking and the recalibration of Coty’s Consumer Beauty division is likely to delay the growth inflection to Q3 of 2026, the analyst tells investors in a research note.