Coty Poised For Continuous Growth: Analyst Anticipates Third Year Of Surging Sales And EBITDA

DA Davidson analyst Linda Bolton Weiser reiterated a Buy rating on the shares of Coty Inc (NYSE: COTY) and raised the price target from $15 to $17.

Coty reported first-quarter FY24 sales growth of 18% year-on-year to $1.64 billion, beating the consensus estimate of $1.58 billion. Adjusted EPS was $0.09, missing the consensus estimate of $0.17.

E-commerce sales were up more than 25% Y/Y in both Prestige and Consumer Beauty and e-commerce now represents close to 20% of total sales.

To facilitate ownership by European investors and to build liquidity in Europe, ...

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