Equities research analysts at Deutsche Bank started coverage on shares of Coty (NYSE:COTY) in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a GBX 20 ($0.31) price target on the stock.
The analysts wrote, “Despite outsized European exposure and resulting organic growth slowdown, we believe Coty is well positioned to continue to capture growth in the rapidly expanding global prestige cosmetics industry. Middle class creation, urbanization and female workforce participation should drive a growth tailwind, with Coty maintaining share with continuous new product activity and ongoing diversifying acquisitions leveraging a highly cash generative business model. We are initiating with a Buy rating and $20 price target.”
COTY has been the subject of a number of other recent research reports. Analysts at Piper Jaffray Cos. initiated coverage on shares of Coty in a research note to investors on Tuesday, July 23rd. They set an “overweight” rating and a $21.00 price target on the stock. Separately, analysts at Bank of America Corp. initiated coverage on shares of Coty in a research note to investors on Tuesday, July 23rd. They set a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. initiated coverage on shares of Coty in a research note to investors on Tuesday, July 23rd. They set an “overweight” rating on the stock.
Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $20.00.
Shares of Coty (NYSE:COTY) traded up 0.46% during mid-day trading on Tuesday, hitting $17.34. Coty has a 52 week low of $16.31 and a 52 week high of $17.65. The stock’s 50-day moving average is currently $17.1. The company’s market cap is $6.638 billion.
Coty Inc is engage in the manufacturing, marketing and distribution of women’s and men’s fragrances, color cosmetics and skin and body care related products globally.