10 Stocks Grow Firmer Despite Mixed Market Sentiment

3. Coty Inc. (NYSE:COTY)

Coty grew its share prices by 4.9 percent on Monday to end at $5.99 apiece, with investors discounting news of a rating downgrade from an investment banking company.

On Monday, Piper Sandler downgraded its price target for COTY to $8 from $9 previously while maintaining an ‘overweight’ rating on the stock. The new price target represents a 33.5-percent premium from its latest closing price.

The lower target came after a disappointing 2024 earnings performance and a pessimistic outlook guidance.

In its latest earnings release, COTY registered an 83-percent lower net income for the past quarter, ending at $30.6 million versus the $186 million year-on-year, pulling down its net profit from July to December by 38 percent to $121.3 million from $196.2 million year-on-year.

Net revenues for the quarter dipped by 3 percent to $1.67 billion from $1.73 billion, while six-month net revenues were flat at $3.3 billion.

Given the dismal performance, COTY cut its annual profit forecast primarily due to expectations of lower demand for cosmetics products.