Morgan Stanley and Canaccord Lower COTY Price Targets After Q2 Results

Group 1 - Coty Inc. has been identified as one of the 13 best American penny stocks to invest in, but recent price target reductions by Morgan Stanley and Canaccord Genuity indicate concerns about its performance [1][3] - Morgan Stanley lowered its price target from $4.25 to $3.50, citing Q2 results that were slightly below expectations and a Q3 EBITDA guidance that fell well below consensus estimates [2][3] - Canaccord Genuity also reduced its price target from $3.50 to $2.50, highlighting uncertainty around Coty's leadership transition and ongoing negative sales growth as key factors for the downgrade [3][4] Group 2 - The withdrawal of Coty's fiscal 2026 guidance was noted as a significant negative factor, leading to a lack of visibility for the company's future performance [2] - The execution of strategies under the new interim CEO is deemed crucial for Coty Inc.'s future success [2]