Coty Inc. (COTY) shares surged 5.03% in Thursday's intraday trading, defying a wave of analyst downgrades and price target cuts. The unexpected rally comes as a surprise given the generally bearish sentiment from Wall Street analysts.
Several major financial institutions lowered their outlook on Coty stock. JPMorgan cut its target price to $5 from $6, while Deutsche Bank downgraded the stock to Hold from Buy. Citigroup reduced its target to $6.50 from $8, and RBC lowered its target to $12 from $13. Morgan Stanley and BofA Global Research also joined the bearish chorus, cutting their price objectives to $5.00 and $4.00 respectively. TD Cowen and Canaccord Genuity followed suit, with the latter downgrading Coty to Hold from Buy and slashing its target price to $5 from $8.
Despite this barrage of negative analyst actions, Coty's stock demonstrated remarkable resilience. The surge in share price suggests that investors may be seeing value that analysts are missing, or there could be other positive factors at play that are not immediately apparent from the available news. It's worth noting that Evercore ISI maintained its Buy rating on Coty, providing a contrasting view to the general analyst consensus. This conflicting market reaction highlights the complex dynamics often at work in stock valuations and investor sentiment.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。