Avon Products (AVP) Situation is Similar to Coty's (COTY) - DA Davidson

DA Davidson analyst Linda Bolton Weiser asks if Avon Products (NYSE: AVP) 'is Like Coty?, which just received a tender offer for an additional 150 million shares from its largest shareholder, JAB.

"We can't say whether AVP's 18% holder Cerberus would make a tender offer, but the situation is similar to Coty's in many ways - Cerberus is in it for the long haul and remains highly engaged, announcing on February 12th that its seasoned turnaround specialist, Kay Nemoto, is joining AVP to help CEO Jan Zijderveld with the cultural transformation of the company," Weiser commented.

AVP reports on Thursday, February 14th, with its call at 9:00 AM.

The firm reiterated a Buy rating and price target of $2.50

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 $2.74 yesterday.

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