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Zacks cites too much debt.
March 16, 2011
By: TOM BRANNA
Editor
Zacks investment research cut its long-term recommendation on Avon Products Inc. to ‘Underperform’ from ‘Neutral’ with a target price of $25.00 per share. Also, the company has a Zacks #5 Rank, implying a short-term ‘Strong Sell’ rating on the stock. According to Zacks, Avon recorded feeble operating performance in the fourth quarter of 2010. The company’s earnings per share plunged 13.2% to $0.59 from $0.68 per share in the year-ago period. The ...
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