Coty price target lowered to $1.50 from $2.50 at BofA

BofA lowered the firm’s price target on Coty (COTY) to $1.50 from $2.50 and keeps an Underperform rating on the shares. The firm is lowering FY26 estimates due to sales weakness following the conflict in the Middle East. While the firm estimates Coty’s exposure to the Middle East is in the mid-single digit percentage range on revenues, it sees a larger proportion of profitability coming from the region given a higher end mix of sales, particularly in premium and ultra-premium Prestige, the analyst tells investors.