Evercore ISI cuts Coty to In Line after CEO Nabi stepping down

Core Viewpoint - Evercore ISI analyst Robert Ottenstein downgraded Coty (COTY) to In Line from Outperform with a price target of $7, citing a lack of visibility on timing and catalysts for potential value unlock despite the shares appearing undervalued [1] Summary by Category - Analyst Downgrade: Coty has been downgraded by Evercore ISI from Outperform to In Line [1] - Price Target: The new price target for Coty is set at $7 [1] - Investment Thesis: CEO Nabi has been central to Coty's investment thesis, but the firm now lacks visibility on potential catalysts for value unlock [1] - Stock Valuation: Evercore expects Coty's stock to remain undervalued and considers outperformance as "unlikely" [1]