Coty Inc. (NYSE:COTY) is listed as one of the 13 Best American Penny Stocks to Invest In. Morgan Stanley and Canaccord Genuity both lowered their price targets on COTY after the company reported Q2 results that were slightly below expectations. The company’s Q3 EBITDA guidance was also lower than consensus estimates. Canaccord Genuity cited uncertainty around leadership transition and negative sales growth as reasons for the reduced price target.

Coty Inc. is an American multinational beauty company with a range of iconic brands in fragrance, color cosmetics, and skin and body care. While COTY offers investment potential, some believe that certain AI stocks present greater upside potential with less downside risk. For more information on undervalued AI stocks, check out the free report on the best short-term AI stock.

Morgan Stanley and Canaccord Genuity have both lowered their price targets on Coty Inc. (NYSE:COTY) following the company’s Q2 results. Morgan Stanley reduced its price target to $3.50, while Canaccord Genuity lowered its target to $2.50. Both firms cited concerns about the company’s performance and leadership transition as reasons for the downward revisions.

Read more at Yahoo Finance: Morgan Stanley and Canaccord Lower COTY Price Targets After Q2 Results