JPMorgan analyst Andrea Teixeira removed Coty from her firm's Analyst Focus List as a short idea but keeps an Underweight rating on the name with a $10.50 price target. The analyst believes the company's sales challenges will likely persist through the upcoming quarters and that there is still downside risk to the Street estimates. However, she admits that her "bear call has mostly played out" with the shares down 38.2% year-to-date. Teixeira cites the stock underperformance and potential buying demand from JAB as reasons to remove Coty from the Focus List as a short.

TD Cowen analyst Oliver Chen lowered the firm's price target on Coty to $13 from $16 and keeps a Buy rating on the shares. The firm said recent stock pullbacks of (13%) imply modest expectations ahead of earnings but they remain constructive on the category.