Coty upgraded as stock valuation hit ‘rock bottom’ last year
Analyst sees ‘limited downside’ in the stock after it was the worst performing S&P 500 component last year.
Coty Inc.’s stock was so bad last year, it’s unlikely to get much worse this year.
That may not sound like a ringing endorsement of the beauty-products company, which brands include Covergirl, Clairol and Max Factor, but it’s enough for J.P. Morgan analyst Andrea Teixeira to recommend investors stop selling.
Teixeira raised her rating on the stock to neutral, after being at underweight since March 2017, citing “rock bottom” valuation. Teixeira said a sum-of-the-parts analysis suggests “limited downside from current levels” over the next year.
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https://www.marketwatch.com/story/coty-u...2019-01-04
Analyst sees ‘limited downside’ in the stock after it was the worst performing S&P 500 component last year.
Coty Inc.’s stock was so bad last year, it’s unlikely to get much worse this year.
That may not sound like a ringing endorsement of the beauty-products company, which brands include Covergirl, Clairol and Max Factor, but it’s enough for J.P. Morgan analyst Andrea Teixeira to recommend investors stop selling.
Teixeira raised her rating on the stock to neutral, after being at underweight since March 2017, citing “rock bottom” valuation. Teixeira said a sum-of-the-parts analysis suggests “limited downside from current levels” over the next year.
...
https://www.marketwatch.com/story/coty-u...2019-01-04