Coty Sales Growth Seen Slowing, Driving Expectations Lower -- Market Talk

Dow Jones04-13

1221 ET - Coty should see its growth decelerate and analysts believe the period of upside surprise sales is behind the company with difficult comparisons in prestige fragrances, Barclays says in a research note. The cosmetics company's guidance assumes the market will decelerate to mid-to-high single digit growth from the about 10% increase seen in the 1H24. Furthermore, there are concerns around softening consumer spending following Ulta Beauty's warning, the analysts say. Barclays lowers its target price to $12 from $13 previously. Shares fall 4.5% to $10.56. (sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

April 12, 2024 12:22 ET (16:22 GMT)

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Barclays lowers its target price to $12 from $13 previously. Shares fall 4.5% to $10.56. 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