Coty Inc. (NYSE:COTY) is one of the 13 Best American Penny Stocks to Invest In. On February 9, Morgan Stanley reduced its price target on Coty Inc. (NYSE:COTY) from $4.25 to $3.50 and kept an Equal Weight rating on the stock.
This update came after the company reported Q2 results, which Morgan Stanley noted were slightly below plan. The company’s Q3 EBITDA guidance was well below consensus estimates. Morgan Stanley pointed out that “the key negative” was the withdrawal of the fiscal 2026 guidance. The research firm pointed to a lack of visibility. Morgan Stanley believes that execution under the new interim CEO will now be important for Coty Inc. (NYSE:COTY) going forward.
On February 9, Canaccord Genuity also reduced its price target on Coty Inc. (NYSE:COTY) from $3.50 to $2.50 while keeping its Hold rating on the stock. This reduction in price target follows the company’s mixed Q2 results.
Canaccord Genuity pointed to uncertainty around Coty Inc.’s (NYSE:COTY) leadership transition and continued negative sales growth as key reasons behind its lower price target.
Coty Inc. (NYSE:COTY) is an American multinational beauty company with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care.
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Disclosure: None. This article is originally published at Insider Monkey.
