Avon Products price target lowered to $18-$19 from $22-$23 at Wells Fargo Wells Fargo cut its target on Avon after the company reported lower than expected revenue. The firm thinks the company's fundamentals remain poor, but believes that the shares already reflect the company's recent setbacks, while even moderate improvements could cause the stock to rebound. Wells keeps an Outperform rating on the shares.
Citi defends recent downgrade of Avon Products Citigroup says that following investor pushback, it is defending its September 8 downgrade of Avon Products to Neutral. The firm says it is comfortable with below consensus estimates given the recent strengthening of the U.S. dollar relative to several currencies. Citi adds that it has less confidence in Avon's turnaround following the departure of CFO Ross. It keeps a Neutral rating on the stock with a $15 price target.