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Fly News Breaks for June 4, 2019
COTY
Jun 4, 2019 | 06:42 EDT
JPMorgan analyst Andrea Teixeira removed Coty from her firm's Analyst Focus List as a short idea. She believes investors will continue to look past the company's "weakening fundamentals" in the near-term, and focus on hopes for upside potential that will be unveiled during its July 1 turnaround plan announcement. The analyst, however, is still "very cautious" on Coty fundamentally, and does not believe that turning around the company will be a quick fix given secular headwinds. She keeps a Neutral rating on the shares with a $10 price target.
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