Canaccord analyst Susan Anderson lowered the firm’s price target on Coty (COTY) to $3.50 from $4 and keeps a Hold rating on the shares. The firm updated its model ahead of earnings as they believe there remains a lot of uncertainty around the future of Coty’s strategy with the pending loss of the Gucci license, new interim CEO, and potential divestitures of the Brazilian brands business and potentially the mass cosmetics business as well.
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