Coty Inc (COTY)

[Enterprising Investor]

Coty scores bull rating from Evercore and lush price target (2/10/21)

Evercore ISI lists seven reasons it sees upside for COTY

Analyst Robert Ottenstein - 1) Fragrances now growth category --56% of sales; 2) E-commerce is a friend, not a foe; 3) Cover Girl’s turnaround has gained traction online; 4) Non-core businesses becoming less of a drag; 5) Non-core businesses becoming less of a drag; 6) Pivot to China and 7) Cost cutting –50% of identified savings in 2021.

The firm moves to an Outperform rating on Coty from In Line and assigns a price target of $10. The 52-week range for Coty is $2.65 to $11.68.