Standpoint Research Starts Avon Products (AVP) at Buy, Sets $25 Price Target

Standpoint Research initiates coverage on Avon Products (NYSE: AVP) with a Buy rating and a $25.00 price target.

The new bullish rating is essentially on the heels of a valuation call: the stock hit a 15-year low on Wednesday and is currently trading around 9x next year's earnings. Standpoint notes Estee Lauder (NYSE: EL) is now trading at 25x.

With Avon shares up 3 percent to $18.37 Thursday afternoon, Standpoint's new price target suggests potential upside of about 36 percent.

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

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