Jefferies Keeps Buy Rating on COTY Amid Sale Rumors

Coty Inc. (NYSE:COTY) is one of the 11 Best US Stocks to Invest in Under $5. On June 17, Jefferies reiterated a “Buy rating with a price target of $6.00 Coty Inc. (NYSE:COTY). This decision comes amid industry reports that the company is looking for buyers for a selloff in two parts.

According to a report by Women’s Wear Daily (WWD), a trade publication focused on the fashion industry, Coty Inc. (NYSE:COTY) could be looking to divest its business in two parts by offering its Prestige and Consumer divisions separately. However, the company has not officially confirmed this.

Jefferies Keeps Buy Rating on COTY Amid Sale Rumors

A close-up of a woman’s face wearing a beauty product, highlighting the company’s range of luxury items.

Industry sources told WWD that Inter Parfums is in talks with Coty Inc. (NYSE:COTY) about its luxury brands and has made an offer specifically for the company’s Burberry license. Inter Parfums has not publicly commented on these discussions and the talks are still in early stages with no final agreements reached.

Despite the rumors of a possible sale, Jefferies analyst Ashley Helgans maintains a positive outlook on Coty Inc. (NYSE:COTY) and reaffirmed both the price target and the buy rating.

Coty Inc. (NYSE:COTY) is an American multinational beauty company with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care. Through its prestige and consumer products, the company serves consumers in over 120 countries and territories around the world.

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