Wells Fargo Starts Avon Products (AVP) at Market Perform: Struggling Leader

Wells Fargo initiates coverage on Avon Products (NYSE: AVP) with a Market Perform. PT range $16-$18.

Analyst, Timothy Conder, said, "While Street expectations are low and valuations near the low end of historical ranges, likely limiting downside risk and presenting long-term investors opportunity, at this point we do not view the risk/reward as overly compelling considering the uncertain timetable needed to improve visibility on multiple operational and strategic issues facing the company. We would consider reassessing our investment stance following the release of details and timetable of a stabilization or turnaround plan from the new management team."

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 $15.16 yesterday.

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