Analyst Andrew Douglas from Jefferies reiterated a Buy rating on Avon Technologies and keeping the price target at p2,400.00.
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Andrew Douglas has given his Buy rating due to a combination of factors, primarily centered around Avon’s recent contract win. Avon Technologies has secured a significant order valued at approximately US$20.6 million for FM50 respirators and FM61EU filters, which is a positive development for the company. This order, placed by a European nation through the NATO Support and Procurement Agency, reinforces Avon’s standing in the defense sector and highlights the strategic importance of their products.
Furthermore, this contract is part of a larger 10-year agreement with NATO, initially awarded in 2020, which allows for the procurement of FM50 respirators and related accessories. The delivery of this order is scheduled for the fiscal years 2026 and 2027, providing a solid foundation for Avon’s future financial expectations. This development is seen as a positive indicator for market sentiment towards Avon, supporting the Buy recommendation.