Coty's beat on low expectations are reason for its 16% premarket rally: Wells Fargo
Coty Inc.'s earnings beat has sparked an 16% rally in its stock in premarket trade Friday, but while the cosmetics giant is making progress on a return to growth, it still has a long way to go, Wells Fargo analyst Joe Lachky said Friday. Coty beat profit estimates and its free cash flow was positive, he said, bu guidance was limited and management said it expects fiscal 2019 adjusted EBIT to be moderately below fiscal 2018, compared with a prior call for positive growth, he wrote. "New CEO Laubies... Читать дальше...