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COTY INC. $7.73 is still a hold for aggressive investors. The company (New York symbol COTY; Consumer sector; Shares outstanding: 816.1 million; Market cap: $6.3 billion; Dividend suspended in 2020; Takeover Target Rating: Medium; www.coty.com) is a leading maker of beauty and cosmetics products. Its main brands include CoverGirl, Max Factor, OPI, and Sally Hansen. In May 2020, Coty sold 60% of its professional beauty and retail hair businesses (called Wella), which includes its Wella, Clairol, ghd, and OPI nail care brands, to private equity firm KKR & Co. Inc. (New York symbol KKR). Coty received $3 billion in cash. KKR also bought $1 billion in convertible preferred shares. Under a new deal, KKR will exchange about half of those preferred shares for a further 9% of Wella. That will cut Coty’s stake in Wella to 30.6%, which is worth $1.38 billion. The transaction will save the company $52 million a year in dividend payments. However, Coty’s high long-term debt of $5.4 billion (86% of its market…