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AVP

Avon Products

$3.49

0.295 (9.23%)

17:09
05/22/19
05/22
17:09
05/22/19
17:09

Avon Products jumps another 16% after Natura confirms deal

Shares of Avon are up 56c or 16% to $4.05 per share in after-market trading. Shares closed the regular session up over 9% to $3.49 per share.

AVP Avon Products
$3.49

0.295 (9.23%)

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
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.
03/25/19
DADA
03/25/19
NO CHANGE
Target $3.5
DADA
Buy
Avon Products buyout could be valued as high as $4.50/shr, says DA Davidson
DA Davidson analyst Linda Bolton Weiser kept her Buy rating and $3.50 price target on Avon Products after the latest speculation about its potential acquisition by Natura. The analyst believes that the takeout valuation could come at $3.80-$4.50 per share, but intends to assess the Brazil anti-trust rules while also noting Natura's already "leveraged balance sheet, with over $2B of debt and debt-to-EBITDA of 4.3-times".
05/10/19
SBSH
05/10/19
NO CHANGE
SBSH
Natura paying 50% premium for Avon 'not the base case,' says Citi
Citi analyst Tobias Stingelin noted that Spanish website Intereconomia.com reported, citing a source, that Santander's board has approved a loan of up to $2.1B for Natura, which he notes has already publicly announced that it is engaged in talks to buy Avon. An all cash transaction of $2.1B, or a 50% premium, is unlikely in his view and he does not believe that this is the base case, Stingelin tells investors. He believes that if a transaction were to take place for Avon it would be at a lower premium and noted that Intereconomia's source said a deal could still be for a combination of cash and stock. Stingelin has a Neutral rating on Natura shares. In afternoon trading, Avon shares are up nearly 10% to $3.18.

TODAY'S FREE FLY STORIES

JKS

JinkoSolar

$22.59

-2.08 (-8.43%)

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FCEL

FuelCell

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RMTI

Rockwell Medical

$4.39

0.2 (4.77%)

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  • 18

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VRS

Verso

$17.91

-0.24 (-1.32%)

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CHVKF

China Vanke Co

$0.00

(0.00%)

17:19
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RCKT

Rocket Pharmaceuticals

$16.88

0.68 (4.20%)

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  • 17

    Jun

BA

Boeing

$354.90

7.71 (2.22%)

, EADSY

Airbus

$0.00

(0.00%)

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Boeing gets zero new plane orders at Paris Air Show so far, CNBC says »

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BA

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7.71 (2.22%)

EADSY

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  • 17

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BHVN

Biohaven Pharmaceutical

$57.33

-5.63 (-8.94%)

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MELR

Melrose Bancorp

$18.40

-0.1 (-0.54%)

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Breaking Hot Stocks news story on Melrose Bancorp »

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CSCO

Cisco

$55.40

0.66 (1.21%)

17:13
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Cisco awarded maximum $724.1M Defense Information Systems Agency contract »

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  • 24

    Jun

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  • 14

    Aug

NI

NiSource

$29.16

0.41 (1.43%)

17:10
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NiSource plans sale of unit tied to gas explosions, Bloomberg says »

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AEO

American Eagle

$17.96

0.38 (2.16%)

17:08
06/17/19
06/17
17:08
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17:08
Conference/Events
American Eagle management to meet with UBS »

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  • 17

    Jun

EVOP

EVO Payments

$29.60

-0.03 (-0.10%)

17:07
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EVO Payments, TouchBistro to partner on payment solutions for Mexico restaurants »

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RDHL

RedHill Biopharma

$7.19

-0.01 (-0.14%)

17:04
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Ibex Investors reports 5.1% passive stake in RedHill Biopharma »

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STLD

Steel Dynamics

$26.23

-0.19 (-0.72%)

17:02
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Breaking Hot Stocks news story on Steel Dynamics »

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STLD

Steel Dynamics

$26.23

-0.19 (-0.72%)

17:01
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Steel Dynamics guides Q2 EPS 86c-90c, consensus 99c »

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TSLA

Tesla

$225.00

10.19 (4.74%)

, TWTR

Twitter

$36.40

0.25 (0.69%)

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TWTR

Twitter

$36.40

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  • 10

    Jul

ATO

Atmos Energy

$104.66

-0.34 (-0.32%)

16:54
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Atmos Energy management to meet with UBS »

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  • 19

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TW

Tradeweb Markets

$41.77

0.33 (0.80%)

16:54
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PINS

Pinterest

$27.81

0.41 (1.50%)

16:52
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Pinterest initiated  »

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HEXO

HEXO Corp

$5.50

-0.095 (-1.70%)

, TAP

Molson Coors

$53.66

-0.34 (-0.63%)

16:51
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Periodicals
HEXO and Molson plan cannabis-infused drinks by December, Bloomberg says »

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HEXO

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TAP

Molson Coors

$53.66

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  • 18

    Jun

  • 31

    Jul

CWEN

Clearway Energy

$16.31

0.205 (1.27%)

16:49
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GNBT

Generex

$0.00

(0.00%)

16:46
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Conference/Events
Generex to hold a conference call »

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ANTM

Anthem

$287.35

1.97 (0.69%)

16:46
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Earnings
Anthem reaffirms FY19 EPS greater than $19.20, consensus $19.30 »

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RTLR

Rattler Midstream

$18.95

-0.255 (-1.33%)

16:44
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