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Fly News Breaks for April 1, 2019
COTY
Apr 1, 2019 | 07:07 EDT
JPMorgan analyst Andrea Teixeira added Coty to her firm's Analyst Focus List as her top short idea. The "technical dynamics" following the completion of JAB's partial tender offer will place downward pressure on the stock in the near term, Teixeira tells investors in a research note. She believes believe Coty "will be effectively in a news vacuum" in the short term with little fundamental reason for shares to maintain their current valuation until management unveils a plan for turning around Consumer Beauty and improving the profitability of the overall business. The analyst keeps a Neutral rating on the shares with a $10 price target.
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