Jefferies analyst Andrew Douglas reiterated a Buy rating on Avon Technologies today and set a price target of p2,255.00.
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Andrew Douglas has given his Buy rating due to a combination of factors that highlight Avon’s strong position in the market. The company’s management has successfully executed a turnaround strategy over the past 18-24 months, which has bolstered confidence in its future prospects. Furthermore, the medium-term outlook for Avon is becoming increasingly robust, supported by both organic growth and potential mergers and acquisitions.
Despite some remaining challenges, the management is effectively mitigating risks, enhancing the company’s equity story. The positive momentum is evident from recent results and industry events, which indicate promising opportunities ahead. Avon is trading at healthy multiples, and the overall sentiment around the company’s evolution remains optimistic, justifying the Buy rating and the updated price target of 2,255p.