Avon Products Downgraded at Barclays Capital on Slowdown Concerns (AVP)
Cosmetics maker Avon Products, Inc. ( AVP ) on Monday saw its rating and price target cut by analysts at Barclays Capital.
The firm downgraded AVP to "Equal Weight" from a previous "Overweight." It also cut its price target to $31 from $35. That new target represents a small expected upside from the stock's Friday closing price of $29.78.
Barclays noted it's concerned about recent sales slowdowns in Russia and Brazil.
Avon Products shares fell 58 cents, or -2%, in premarket trading Monday.
The Bottom Line
Shares of Avon Products ( AVP ) have a 2.96% dividend yield, based on Friday's closing stock price of $29.78. The stock has technical support in the $26-$28 price area. If the shares can firm up, we see overhead resistance around the $32-$34 price levels.
Avon Products, Inc. ( AVP ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.