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Fly News Breaks for November 15, 2018
COTY
Nov 15, 2018 | 06:55 EDT
BMO Capital analyst Shannon Coyne upgraded Coty to Outperform from Market Perform and kept her price target at $12. The analyst says that her downgrade in August was driven by concerns around the company's supply chain issues, but believes that these factors have now been fully priced in after the management withdrew its guidance and consensus earnings have been pulled back by about 30%. With a 30% decline in the stock price over the past 10 weeks, Coyne states that the risk-reward on shares of Coty is now "compelling".
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