Coty could benefit from buying Elizabeth Arden, says Stifel After Elizabeth Arden (RDEN) reportedly hired an investment bank to explore a sale of the company, Stifel contends that Arden could be of strategic value to Coty (COTY). The firm thinks that an acquisition of Arden would be significantly accretive to Coty. It keeps a Hold rating on Coty.
Coty downgraded to Neutral from Buy at Citi Citi downgraded Coty (COTY) to Neutral after shares rallied on a New York Post report saying the company is in talks to acquire Procter & Gamble's (PG) beauty business for $12B. Citi sees potential challenges with the deal and notes the stock is up 65% since its upgrade in January. The firm raised its price target for shares to $32 from $29.