Kimberly-Clark Upgraded on Lower Commodity Costs, Avon Hit by Ruble

Avon Products (AVP) downgraded, Kimberly-Clark (KMB) upgraded and Red Hat (RHT) initiated in Tuesday's Analysts' Actions.
Author:
Publish date:

Avon Products (AVP) downgraded, Kimberly-Clark (KMB) upgraded and Red Hat (RHT) initiated in Tuesday's Analysts' Actions. Avon was downgraded at BMO Capital to UNDERPERFORM from MARKET PERFORM. The firm says currency concerns in Russia are hurting door-to-door sales in Eastern Europe. The price target was cut to $7 from $10. At the same time, BMO upgraded consumer products maker Kimberly-Clark to OUTPERFORM from MARKET PERFORM. The price target was also raised by $9 to $125. BMO says the company will benefit from lower commodity costs and can manage its currency exposure. Red Hat is now being covered at Cantor Fitzgerald with a BUY rating and a price target set at $81 a share. The firm says Red Hat is a market leader and can continue to gain market share.