Analyst Andrew Douglas from Jefferies maintained a Buy rating on Avon Technologies and keeping the price target at 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 performance and future potential. The company has reported preliminary results for FY25 that surpass expectations, particularly in terms of profit before tax and earnings per share, despite slightly higher net debt. This performance reflects effective management execution and positive business momentum.
Moreover, Avon has achieved several medium-term targets ahead of schedule, and its underlying markets are experiencing healthy growth. The company boasts a record order book, providing solid coverage for the current year, and maintains a robust balance sheet to support its strategic objectives, including potential mergers and acquisitions. Despite some concerns about the US government shutdown, management is successfully mitigating risks associated with Avon’s transformation. With confidence in the current year’s outlook, Douglas anticipates upward revisions in consensus estimates, particularly in earnings per share, reinforcing the Buy recommendation.