UBS Maintains a 'Neutral' on Avon Products (AVP); Closer Look at Offer by Coti
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Price: $5.60 --0%
Rating Summary:
3 Buy, 12 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 12 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Neutral' on Avon Products (NYSE: AVP) price target raised from $17 to $23.
Analyst, Nik Modi, said, "While we believe Coty is serious about acquiring Avon, we do not see any other bidders coming to the fore. For starters, we believe Avon is too large for existing publicly-traded direct sellers to acquire (and these companies are performing well at present). We also do not see any other traditional CPG manufacturers making a bid given concerns over the long term viability of the direct selling channel and concerns over integrating Avon in its presently weakened state."
Modi sees best case scenario for AVP at about $27 (on a stand alone basis). UBS lowers FY13 EPS estimate from $1.68 to $1.48.
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 $22.19 yesterday.
Analyst, Nik Modi, said, "While we believe Coty is serious about acquiring Avon, we do not see any other bidders coming to the fore. For starters, we believe Avon is too large for existing publicly-traded direct sellers to acquire (and these companies are performing well at present). We also do not see any other traditional CPG manufacturers making a bid given concerns over the long term viability of the direct selling channel and concerns over integrating Avon in its presently weakened state."
Modi sees best case scenario for AVP at about $27 (on a stand alone basis). UBS lowers FY13 EPS estimate from $1.68 to $1.48.
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 $22.19 yesterday.
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