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Fly News Breaks for December 18, 2015
AVP
Dec 18, 2015 | 08:25 EDT
Sterne Agee upgraded Avon Products to Buy with a $6 price target on shares following the announcement that Cerberus has taken an 80% stake in the North American business and investing in convertible preferred stock of the ex-US business. The firm said Avon benefits from any upside Cerberus extracts in North America, management will be able to focus on core emerging markets, and new board members will add a fresh perspective to the business and strategy.
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