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AVP

Avon Products

$1.88

0.035 (1.90%)

07:43
10/15/18
10/15
07:43
10/15/18
07:43

Avon Products names Colin Shenoy new VP for IT Transformation

Avon Products appointed Colin Shenoy as Vice President for IT Transformation, effective October 15. He will report to recently appointed Chief Digital and IT Officer, Benedetto Conversano. His responsibilities will include designing and implementing a new Digital and IT organization for Avon, executing a targeted strategy to transform the company's IT infrastructure, as well as assessing how Avon can prioritize and better manage business critical projects that will drive the company's return to growth. Shenoy most recently served as CIO and Global Operations Director for BUPA Global, the international health insurance division of BUPA. Prior to that, he served as CIO of Global Blue.

  • 01

    Nov

AVP Avon Products
$1.88

0.035 (1.90%)

09/24/18
09/24/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Plains All American (PAA) and Plains GP Holdings (PAGP) were upgraded to Buy from Hold at Stifel. 2. Avon Products (AVP) upgraded to Buy from Neutral at DA Davidson with analyst Linda Bolton Weiser citing the increased "sense of urgency" under the new CEO Jan Zijderveld displayed in his first analyst meeting, demonstrating his greater engagement in the company's operations, hiring of executives with sales experience, and "establishing a culture of accountability." 3. United Natural Foods (UNFI) upgraded to Sector Perform at RBC Capital with analyst William Kirk saying while core business challenges for the company remain and the risk of the Supervalu acquisition integration continues, its 6.4-times earnings valuation likely accounts for these issues. 4. KVH Industries (KVHI) upgraded to Buy from Neutral at Chardan with analyst James McIlree saying he expects "continued strong growth" from its Agile Plans that should result in improved margins and increased financial predictability. 5. RELX (RELX) upgraded to Overweight from Equal Weight at Barclays with analyst Nick Dempsey saying he views the current valuation as attractive. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/24/18
DADA
09/24/18
UPGRADE
Target $3.5
DADA
Buy
Avon Products upgraded to Buy at DA Davidson on operational focus of new CEO
As reported earlier, DA Davidson analyst Linda Bolton Weiser upgraded Avon Products (AVP) to Buy from Hold and raised her price target to $3.50 from $1.75. The analyst cites the increased "sense of urgency" under the new CEO Jan Zijderveld displayed in his first analyst meeting, demonstrating his greater engagement in the company's operations, hiring of executives with sales experience, and "establishing a culture of accountability". Based on her increased confidence in Avon's management team, Weiser also raised her target enterprise value to expected FY20 EBITDA target multiple to 6.5-times from 4.5-times, which is still a discount to other direct sellers like Nu Skin (NUS) and Herablife (HLF) trading at 11- to 12-times
09/24/18
DADA
09/24/18
UPGRADE
DADA
Buy
Avon Products upgraded to Buy from Neutral at DA Davidson
09/18/18
DADA
09/18/18
NO CHANGE
DADA
Neutral
Avon CEO likely to get time before board considers sale, says DA Davidson
DA Davidson analyst Linda Bolton Weiser thinks the board of Avon Products (AVP) will give new CEO Jan Zijderveld a period of time to improve financial performance before seriously considering a sale of the company. With Zijderveld set to unveil his turnaround strategy on September 21, the Wall Street Journal reported last night that Brazilian beauty direct seller Natura recently approached Avon about a takeover, Bolton Weiser tells investors in a research note titled "What Will Become of Avon?" Natura said in a statement, however, that there are no negotiations in progress concerning a possible acquisition of Avon, the analyst points out. She doubts that the board and Cerberus would find it prudent to sell the company when the share price is around $2. With that said, Bolton Weiser notes that Avon's takeout valuation is $7.75 per share based on Coty's (COTY) 2012 offer. In April 2012, Coty offered $23.25 per share for Avon, a 27% premium, and later raised it to $24.75 per share, or $10.7B, the analyst recalls. She notes the offer was withdrawn in May 2012. Bolton Weiser has a Neutral rating on Avon Products with a $1.75 price target. The stock in late morning trading is up 8%, or 16c, to $2.24.

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