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Fly News Breaks for June 12, 2015
PG, COTY
Jun 12, 2015 | 07:34 EDT
After Reuters reported that Coty (COTY) is in the final round of bidding on Procter & Gamble’s (PG) mass cosmetics business, Stifel says that such a a deal would fit Coty’s stated acquisition criteria and be meaningfully accretive for Coty. The firm says that Coty's risk/reward is favorable, as its stock would reach around $35 if it makes the acquisition and fall to around $24 if its fails to do so. Stifel keeps a Buy rating on the shares.
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