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NEW YORK (TheStreet) -- Coty(COTY - Get Report)had coverage initiated with an "outperform" rating and a $19 price target at BMO Capital Markets.
"Our price target of $19 is based on the assumption that Coty will trade at 21x our FY2015 estimate of 90 cents. We established EPS estimates of 85 cents in FY2014, 90 cents in FY2015 and $1.00 in FY2016," the firm said.