** Brokerage Jefferies cuts PT on CoverGirl parent Coty COTY.N and cosmetics retailer Ulta Beauty ULTA.O, says e-commerce companies are winning market share
** Cuts Coty's PT to $7 from $8; shares down as much as 1.6%
** Slashes Ulta's PT to $334 from $354; says co is losing offline retail market share to Sephora due to its more upmarket offerings, appeal to young shoppers
** Notes Amazon has been the biggest winner within beauty, taking market share from Ulta, Sally Beauty SBH.N and Build-A-Bear BBW.N
** Sees TikTok Shop to evolve into a key beauty marketplace, given its proximity to product discovery and affiliate-linked content
** However, sees makeup company Elf Beauty ELF.N being relatively well-positioned for shift to digital, given co-owned website, early social media adoption and minimal exposure to department stores
** Including session moves, ULTA and COTY has fallen 15% and 22% respectively, YTD
(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.