Coty initiated with a Buy at Berenberg

Berenberg analyst Fulvio Cazzol initiated coverage of Coty (COTY) with a Buy rating and $7.50 price target The global beauty market will grow by 3.7% in 2025, the analyst tells investors in a research note. The firm expects beauty growth in developed markets to revert to the 3%-3.5% range, China to stabilize in the first half of 2025 and return to growth in the second half, and emerging markets to grow by 8% this year. It believes Coty is nearing trough relative valuation multiples and that the “story is about to become more interesting.”