As previously reported, Evercore ISI analyst Robert Ottenstein downgraded Coty (COTY) to In Line from Outperform with a $7 price target CEO Nabi has been central to Coty’s investment thesis, and while the shares screen undervalued the firm notes that it now lacks visibility on timing and catalysts for a potential value unlock, the analyst tells investors in a research note. Evercore adds that it expects the stock to remain undervalued and sees outperformance as “unlikely”.
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