Barclays Maintains an 'Equalweight' on Avon Products (AVP); Tweaking Estimates & PT

Barclays maintains an 'Equalweight' on Avon Products (NYSE: AVP) price target lowered from $28 to $26.

Barclays analyst says, "While our 2011 EPS estimate remains unchanged at $2.03, we are lowering our 2012 EPS estimate $0.04/share to $2.24, which implies +10% growth YoY. With all of the recently announced changes in North America (new Leadership model, shift toward Non-Beauty, etc), we now assume slightly lower sales growth in this region (local currency sales +0.5% versus +2% previously) as we are unsure how impactful these new initiatives will be. Our total company local currency sales growth is now +5.1% (from +5.4% previously). We are also lowering our Price Target on AVP shares to $26 which implies a 11.6x multiple on our revised 2012 EPS estimate of $2.24."

For more ratings news on Avon Products click here and for the rating history of Avon Products click here.

Shares of Avon Products closed at $22.12 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
• Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy