03:01 PM EST, 11/04/2024 (MT Newswires) -- Coty ( COTY ) is unlikely to adjust its topline guidance when it reports its fiscal Q1 earnings, RBC Capital Markets said in a note Monday.

The investment firm said it does not expect any surprises given that Coty ( COTY ) had pre-announced its fiscal Q1 results in mid-October.

At the time, the beauty products maker said it expected fiscal Q1 sales to rise about 4% to 5% on a like-for-like basis, lower than its previously estimated outlook of 6% growth.

RBC cautioned that while Coty ( COTY ) is unlikely to adjust its guidance only one quarter into the year, the company did not explicitly reiterate its fiscal year like-for-like guidance of 6% to 8% in October.

"This is likely due to the dynamic environment (which is mostly beyond Coty's ( COTY ) control) but indicates to us that the chance for a downward revision is not off the table yet," RBC said.

The firm maintained its outperform rating on Coty ( COTY ) with a $14 price target.

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