Coty Inc. (COTY) saw its shares plummet 5.08% during Monday's intraday trading session, following a series of bearish analyst actions.
The sharp decline came as several major financial institutions lowered their price targets on the beauty company. Barclays cut its target to $2.50 from $3.00 while maintaining an Underweight rating. RBC Capital reduced its target to $8.00 from $10.00, and Morgan Stanley lowered its target to $3.50 from $4.25. Deutsche Bank also joined the trend, cutting its price target to $3.00 from $4.00.
Analysts cited concerns over weaker fundamentals, an unclear turnaround trajectory, and ongoing structural headwinds facing the company. The collective downward revisions from multiple firms contributed to significant selling pressure on the stock during the trading day.