Bristol-Myers downgrade, Under Armour upgrade among today's top calls » 09:3604/3004/30/21
BMY, UAA, UA, NKE, CMCSA, DKNG, COTY
Check out today's top…
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Citi adds Coty to Focus List, raises price target to $15 » 16:1704/2904/29/21
Citi analyst Wendy…
Citi analyst Wendy Nicholson raised the firm's price target on Coty to $15 from $11 and keeps a Buy rating on the shares, which she has also added to the firm's Focus List. She has come away from a recent strategic update call hosted by management and a two-day virtual non-deal roadshow "increasingly optimistic" about Coty's potential, Nicholson tells investors. She believes the company's potential for "stronger and more profitable" growth has "never been better," the analyst added.
Coty price target raised to $10 from $6 at Stifel » 07:2704/2704/27/21
Stifel analyst Mark…
Stifel analyst Mark Astrachan raised the firm's price target on Coty to $10 from $6 and keeps a Hold rating on the shares. He believes Coty is benefiting from improving beauty category trends in the U.S. and Asia, though its EMEA exposure will be an offset as slower reopening trends there impact beauty consumption, Astrachan tells investors.
Coty price target raised to $12 from $9 at RBC Capital » 06:5904/2704/27/21
RBC Capital analyst Nik…
RBC Capital analyst Nik Modi raised the firm's price target on Coty to $12 from $9 and keeps an Outperform rating on the shares. The company's Strategic Update highlighted the "green shoots" that the management is seeing on its strategic pillars, particularly goals and progress on Asia, skincare, online, prestige, and stabilizing mass, the analyst tells investors in a research note. The company is making progress and its new CEO Sue Nabi looks "very credible", Modi adds.
Coty price target raised to $9 from $8 at Deutsche Bank » 06:5804/2604/26/21
Deutsche Bank analyst…
Deutsche Bank analyst Faiza Alwy raised the firm's price target on Coty to $9 from $8 and keeps a Hold rating on the shares. The company presented a "compelling future strategic vision" aimed at stabilizing consumer beauty brands and investing in high growth categories, Alwy tells investors in a research note.
Coty call volume above normal and directionally bullish » 11:0504/2304/23/21
Bullish option flow…
Bullish option flow detected in Coty with 12,978 calls trading, 4x expected, and implied vol increasing over 2 points to 70.04%. 4/23 weekly 9.5 calls and 4/23 weekly 9 calls are the most active options, with total volume in those strikes near 4,300 contracts. The Put/Call Ratio is 0.05. Earnings are expected on May 10th.
Coty backs FY21 revenue view $4.5B-$4.6B, consensus $4.57B » 08:0804/2304/23/21
Backs FY21 adjusted…
Backs FY21 adjusted EBITDA view $750M. The company said during its presentation to investors: "Coty intends to strengthen the performance of its Consumer Beauty business by rejuvenating and repositioning several key brands, allowing it to capture new growth opportunities. This involves plans to bolster CoverGirl, Sally Hansen, Rimmel, Max Factor, and adidas through a focus on brand equity, key trends, clear consumer targets, in-store execution, product innovation, and ensuring that each brand has a distinctive purpose. Coty expects to strengthen CoverGirl's appeal to a broader U.S. consumer base. The objective will be to build on the brand's heritage of pioneering key beauty trends - including clean makeup and makeup/skincare hybrid products - supported by new launches and innovative marketing. CoverGirl, which this year celebrates its 60th anniversary, is already benefiting from this repositioning and is delivering improved sales... Coty intends to build its skincare portfolio across Mass and Prestige: capitalizing on key trends like regenerative medicine and creating products that are truly green, clean and sustainable. Coty currently has three skincare brands, with a fourth brand, SKKN by Kim, launching in Fiscal Year 2022. Each brand occupies distinct positioning, price tiers, and geographic strengths. Coty now sees an opportunity to extend several of its designer brands and consumer beauty brands into the skincare portfolio. Within its existing skincare portfolio, Coty is repositioning its brands for greater success. Lancaster, which has a rich history related to innovative skincare technology and protection, including unique IP, intends to transform from a regional UV protection brand to a leader in skincare enhancement and renewal. Philosophy - which produces Purity, the number one facial cleanser product in the U.S. - is expected to move from being a U.S.-centric wellbeing beauty brand to a leader in green, clean 'ceutical' skincare. Coty intends to enhance the performance of its luxury business, by accelerating its core Prestige fragrance business and capturing new opportunities in Prestige cosmetics and skincare. By Fiscal Year 2025, Coty is targeting: skincare to increase from approximately 6% to over 10% of the revenue mix; Prestige cosmetics to increase from approximately 3% to a high-single digit percent of the revenue mix; and, lastly, China's contribution to triple to over 10% of the revenue mix. With Prestige fragrances, Prestige cosmetics, skincare and China operations delivering above-corporate margins, this targeted portfolio mix is expected to drive profitability and margin expansion... Coty also expects a rebound in the Travel Retail sector after a challenging 12 months, with indicators suggesting strong pent-up demand for international travel. Coty plans to accelerate its e-commerce and direct to consumer, or DTC, growth, through a transformed approach to its digital strategy. In Q2, the company recorded 40% e-commerce sales growth driven by its prestige and mass businesses. Coty's newly integrated digital approach is designed to build on this momentum and harness industry-leading innovations, including social listening and social commerce."
Coty management to host conference call » 07:5504/2304/23/21
Coty management to host conference call » 04:5504/2304/23/21
Coty management to host conference call » 10:1304/2204/22/21