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Ahead Of The Bell: BMO Analyst Upgrades Avon
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AVP
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NEW YORK (AP) — Shares of cosmetics company Avon Products Inc. were upgraded to "Market Perform" from "Underperform" by a BMO Capital Markets analyst as the company signed up 1 million new representatives in the first quarter.
Analyst Connie Maneaty also said the company should offer more details of its $300 million to $400 million restructuring program when it reports second-quarter results. The restructuring is expected to cut costs by $200 million a year by 2013.
Still, Maneaty warns that sales are likely to worsen. ...
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