** U.S.-listed shares of CoverGirl parent Coty COTY.N up 3.6% at $5.74 premarket
** Citi upgrades stock to "neutral" rating from "buy", raises PT to $8 from $7
** Citi says market is not assigning value to co's potential sale of the Wella stake, which COTY targets by end of CY25, expects proceeds to go largely to share repurchases
** Believes co's lowered medium-term targets reduce risk of disappointments, sees potential for re-acceleration throughout FY 2026
** Says valuation already reflects concerns including trends in consumer beauty remaining challenged
** Average rating of 20 analysts on stock is "buy"; with a median PT of $8 - data compiled by LSEG
** COTY has fallen 20% YTD, as of last close
(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com;))
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