Deutsche Bank Lifts PT on Avon Products (AVP) to $26 Post Q4

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Deutsche Bank raised its price target on Buy-rated Avon Products (NYSE: AVP) from $21 to $26 following Q4 EPS of $0.37, 10 cents above the Street.

The firm comments, "While turnaround will take time, we expect to see incremental progress as restructuring gains steam and company eliminates costs to fund reinvestment, and innovation, with significant growth and margin upside potential from severely depressed levels. Issues that got the company to where they are today didn’t happen overnight and recovery will take time, but absent macro dislocation and significant incremental operating stumbles, we see solid risk/reward even from these levels."

For an analyst ratings summary and ratings history on Avon Products click here. For more ratings news on Avon Products click here.

Shares of Avon Products closed at $17.28 yesterday, with a 52 week range of $13.70-$23.58.

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